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GOOG Q4 Just In. Surprise: Google Continues to Print Money

Gross income up $2b from 08.

     

Brett_Tabke

10:21 pm on Jan 21, 2010 (gmt 0)

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Tech Crunch [izurl.com]

Revenues were up 17 percent to $6.7 billion, while non-GAAP earnings increased 35 percent to $2.2 billion, or 6.79 per share. That is well above the analyst consensus of $6.50 a share.

Revenues for the full year ended up being $23.65 billion, up from $21.8 billion in 2008. Net income for 2009 was $6.5 billion.

Google’s revenue in the quarter was broken down 66 percent (or $4.4 billion) from its own sites and 31 percent (or $2 billion) from AdSense revenues across its advertising network. The other 3 percent came from licensing and other businesses. While the Google’s ad revenue on its own sites increased 16 percent, AdSense revenues grew an even faster 21 percent.

johnnie

11:26 pm on Jan 21, 2010 (gmt 0)

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Hah, mere pocket change.

BillyS

11:41 pm on Jan 21, 2010 (gmt 0)

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I believe it. Google has been very generous lately. I suspect we might be seeing the end of the economic downturn and a return to a more normal adversiting spend.

Good for Google.

dertyfern

12:39 am on Jan 22, 2010 (gmt 0)

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Hmm, well I suppose this means all you guys who claimed to be jumping ship and moving to Bing, bluffed :)

J_RaD

12:41 am on Jan 22, 2010 (gmt 0)

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I didn't bluff, google gets $0 of my very healthy ad spend.

im filling the pockets of Yahoo/Bing

maximillianos

1:59 am on Jan 22, 2010 (gmt 0)

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That's about 300-400 million net profit off Adsense. Not bad for a program that serves ads.

KenB

2:19 am on Jan 22, 2010 (gmt 0)

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I can't help but think part of these extra profits come from cutting our share of the AdSense take.

incrediBILL

3:22 am on Jan 22, 2010 (gmt 0)

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I can't help but think part of these extra profits come from cutting our share of the AdSense take.

They didn't need to bother messing with AdSense after they saved tons of money laying off people.

This is the genius of mainstream media at work.

You're seeing inflation and unemployment in the news everyday so even a company like Google, on target to make a record sales in the billions, can use the "economy" as an excuse to send tens of thousands to the unemployment line and not look suspicious as they sweep out the deadwood.

BillyS

3:38 am on Jan 22, 2010 (gmt 0)

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tens of thousands to the unemployment line and not look suspicious as they sweep out the deadwood.

From their 10-Q:

Our full-time employee headcount was 19,604 at June 30, 2008 and 19,786 at June 30, 2009.

Although I will admit I also found:

As of September 30, 2008, we had 20,123 employees located around the world.

So I'm guessing it's closer to hundreds of employees, not tens of thousands.

incrediBILL

3:51 am on Jan 22, 2010 (gmt 0)

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So I'm guessing it's closer to hundreds of employees, not tens of thousands.

That's weird because there were lots of reports of thousands being cut, cafeterias closing, etc. so maybe they rehired in different areas?

I'll bet some of those employee numbers also include new acquisitions so as one side is laying off they acquire new employees with new products.

rohitj

4:34 am on Jan 22, 2010 (gmt 0)

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Can you show us these *reports* because I'm pretty sure that it's not the case that "thousands" were ever cut. It was several hundreds and it was mainly in a few areas like recruitment.

incrediBILL

4:54 am on Jan 22, 2010 (gmt 0)

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Google is in the process of paring back a contractor workforce that numbers about 10,000, the company confirmed Monday. The news, though, isn't as fresh as it might appear at first blush.

[news.cnet.com...]

Contractors, employees, it's all the same thing except one shows up as EMPLOYEE and the other vanishes without a trace on those quarterly reports so it doesn't scare the investors.

maximillianos

5:07 am on Jan 22, 2010 (gmt 0)

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I would guess the 10,000 contractors might be their QA raters. They may have decided to move on from that strategy.

incrediBILL

5:55 am on Jan 22, 2010 (gmt 0)

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I would guess the 10,000 contractors might be their QA raters.

There were some SV engineers in those numbers.

zett

6:20 am on Jan 22, 2010 (gmt 0)

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As of September 30, 2008, we had 20,123 employees located around the world.

Cost for an engineer in (insert developing nation here) is smaller than the cost for an engineer in Mountain View, California.

They probably got rid of *some* of the MV folks and re-hired in (insert developing nation here).

rj87uk

9:41 am on Jan 22, 2010 (gmt 0)

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heh, well done them - Its something to admire.

ponyboy96

3:16 pm on Jan 22, 2010 (gmt 0)

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And the stock dropped like a rock on the news. Down over 5% when I checked yesterday.

BillyS

5:57 pm on Jan 22, 2010 (gmt 0)

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incrediBILL - I didn't want to double-post, but I did notice after Submitting that 10-Q clearly stated FULL time employees. Still, I don't think there was a massive layoff at Google.

J_RaD

6:17 pm on Jan 22, 2010 (gmt 0)

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Cost for an engineer in (insert developing nation here) is smaller than the cost for an engineer in Mountain View, California.

They probably got rid of *some* of the MV folks and re-hired in (insert developing nation here).

Hasn't everyone learned when you pay X for work you get that quality of work.

I can assure you nobody is praising dell's customer service or tech support.

incrediBILL

9:01 pm on Jan 22, 2010 (gmt 0)

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Still, I don't think there was a massive layoff at Google.

When you aren't dealing with real employees, it's contractors, technically it's not a layoff so it was pretty much under the radar.

Do you believe Forbes?

Global Equities Research analyst Trip Chowdhry says his contacts are telling him Google has let go 3,000 contract employees.

[forbes.com...]

Here's another source:

Last week we learned Google laid off 5,000+ contractors and tried to keep it out of the news.

[thedailyanchor.com...]

Also note the TheDailyAnchor piece mentioned some of the Google office closures which offered to relocate people to other Google locations, if you failed to relocate then you technically "quit", another way of laying people off without it actually being a layoff and keeping it under the radar.

What about all those HR people (googlers, contractors, etc.) dumped at the curb from the Google Blog?

Our first step to address this was to wind down almost all our contracts with external contractors and vendors providing recruiting
services for Google. However, after much consideration, we have with great regret decided that we need to go further and reduce the overall size of our recruiting organization by approximately 100 positions.

[googleblog.blogspot.com...]

Or more recently, sales and marketing people via the Business Insider?

A Google blog post puts the number at 200.

Our source says its more, but the disparity might have something to do with firing contractors, who aren't technically Google employees.


[businessinsider.com...]

I could continue to quote from more sources about other events but I think I've made my point.

Probably up to 1K actually Googlers and many thousands of contractors and vendors.

Google shattered a lot of lives to make those numbers.

Don't be evil?

Who are we kidding, it's all for the bottom line.

Strictly business ;)

The Shower Scene

10:47 pm on Jan 22, 2010 (gmt 0)

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Google shattered a lot of lives to make those numbers.

You left out the fact that Google dramatically underpays their employees [techcrunch.com]. It's one of the top reasons employees quit. Add to that their callousness toward the needs of employees with families, the corporate image of Google fully resembles the worst of Ebenezer Scrooge.

ChanandlerBong

3:55 pm on Jan 23, 2010 (gmt 0)

5+ Year Member



the corporate image of Google fully resembles the worst of Ebenezer Scrooge.

you mean Ebenezer Scroogle

sorry, couldn't resist!

 

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