| | | | | | | | | | | | | | | | | | Google Financial Data from a New Perspective: Graphs >> Google Milk - http://googled.wordpress.com | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2003 | | | | 2004 | | | | 2005 | | | | 2006 | | | | Revenue | Q1 | Q2 | Q3 | Q4 | Q5 | Q6 | Q7 | Q8 | Q9 | Q10 | Q11 | Q12 | Q13 | Q14 | | | Revenues | 248618 | 311199 | 393942 | 512175 | 651623 | 700212 | 805887 | 1031501 | 1256516 | 1384495 | 1578456 | 1919093 | 2253755 | 2455991 | | | Y/Y Growth rate | 488% | 296% | 201% | 173% | 162% | 125% | 105% | 101% | 93% | 98% | 96% | 86% | 79% | 77% | | | Q/Q Growth rate | 32% | 25% | 27% | 30% | 27% | 7% | 15% | 28% | 22% | 10% | 14% | 22% | 17% | 9% | | | Google web sites | 157,9 | 183102 | 207239 | 243822 | 303532 | 343442 | 411671 | 530388 | 656997 | 737172 | 884679 | 1098213 | 1297317 | 1432461 | | | Y/Y Growth rate | 341% | 209% | 124% | 104% | 92% | 88% | 99% | 118% | 116% | 115% | 115% | 107% | 97% | 94% | | | Q/Q Growth rate | 32% | 16% | 13% | 18% | 24% | 13% | 20% | 29% | 24% | 12% | 20% | 24% | 18% | 10% | | | Google network web sites | 81218 | 117583 | 174444 | 255354 | 333752 | 346226 | 384285 | 489993 | 584115 | 630242 | 675012 | 798573 | 928376 | 996567 | | | Y/Y Growth rate | 17,33% | 845% | 462% | 326% | 311% | 194% | 120% | 92% | 75% | 82% | 76% | 63% | 59% | 58% | | | Q/Q Growth rate | 35% | 45% | 48% | 46% | 31% | 4% | 11% | 28% | 19% | 8% | 7% | 18% | 16% | 7% | | | Total advertising revenues | 239118 | 300685 | 381683 | 499176 | 637284 | 689668 | 795956 | 1020381 | 1241112 | 1367414 | 1559691 | 1896786 | 2225693 | 2429028 | | | Y/Y Growth rate | 560% | 320% | 209% | 178% | 167% | 129% | 109% | 104% | 95% | 98% | 96% | 86% | 79% | 78% | | | Q/Q Growth rate | 33% | 26% | 27% | 31% | 28% | 8% | 15% | 28% | 22% | 10% | 14% | 22% | 17% | 9% | | | Licensing & other revenues | 9,5 | 10514 | 12259 | 12998 | 14339 | 10544 | 9931 | 11121 | 15405 | 17081 | 18765 | 22307 | 28062 | 26963 | | | Y/Y Growth rate | 57% | 53% | 73% | 51% | 51% | 0% | -19% | -14% | 7% | 62% | 89% | 101% | 82% | 58% | | | As % of revenues | | | | | | | | | | | | | | | | | Google web sites | 63% | 59% | 53% | 48% | 47% | 49% | 51% | 51% | 52% | 53% | 56% | 57% | 58% | 58% |
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| | | | | | | | | | | | | | | | | | | Google network web sites | 33% | 38% | 44% | 50% | 51% | 49% | 48% | 48% | 47% | 46% | 43% | 42% | 41% | 41% | | | Licensing & other revenue | 4% | 3% | 3% | 2% | 2% | 2% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | | | Cost | | | | | | | | | | | | | | | | | Cost of revenues* | 88647 | 118762 | 173398 | 253604 | 320474 | 328923 | 364095 | 455475 | 546781 | 598119 | 655154 | 777035 | 904119 | 989032 | | | As % of revenues | 36% | 38% | 44% | 50% | 49% | 47% | 45% | 44% | 44% | 43% | 42% | 40% | 40% | 40% | | | Traffic acquisition cost | 70131 | 96559 | 143487 | 216356 | 271002 | 277034 | 302932 | 377708 | 461807 | 494,32 | 529874 | 628941 | 722736 | 785159 | | | As % of revenues | 28% | 31% | 36% | 42% | 42% | 40% | 38% | 37% | 37% | 36% | 34% | 33% | 32% | 32% | | | Other cost of revenues* | 18516 | 22203 | 29911 | 37248 | 49472 | 51889 | 61163 | 77767 | 84974 | 103799 | 125,28 | 148094 | 181383 | 203873 | | | As % of revenues | 7% | 7% | 8% | 7% | 8% | 7% | 8% | 8% | 7% | 7% | 7% | 8% | 8% | 8% | | | Research & development* | 31928 | 36306 | 76652 | 84719 | 81284 | 91598 | 99529 | 122752 | 108711 | 123134 | 177793 | 189871 | 246599 | 282552 | | | As % of revenues | 13% | 12% | 19% | 17% | 12% | 13% | 12% | 12% | 9% | 9% | 11% | 10% | 11% | 12% | | | Sales & marketing* | 25385 | 31915 | 52394 | 55241 | 62,05 | 70208 | 77092 | 86399 | 89488 | 104546 | 111487 | 162632 | 190943 | 196397 | | | As % of revenues | 10% | 10% | 13% | 11% | 10% | 10% | 10% | 8% | 7% | 8% | 7% | 8% | 8% | 8% | | | General & administrative* | 17952 | 19432 | 24942 | 32193 | 32492 | 38525 | 53059 | 64076 | 68766 | 82998 | 104851 | 129915 | 169395 | 172638 | | | As % of revenues | 7% | 6% | 6% | 6% | 5% | 6% | 7% | 6% | 5% | 6% | 7% | 7% | 8% | 7% | | | Settlement of dispute with Yahoo | NA | NA | NA | NA | NA | NA | 201 | NA | NA | NA | NA | NA | NA | NA | | | As % of revenues | NA | NA | NA | NA | NA | NA | 25% | NA | NA | NA | NA | NA | NA | NA | | | Total costs & expenses* | 163912 | 206415 | 327386 | 425757 | 496,3 | 529254 | 794775 | 728702 | 813746 | 908797 | 1049285 | 1349453 | 1511056 | 1640619 | | | Y/Y Growth rate | 505% | 335% | 343% | 307% | 203% | 156% | 143% | 71% | NA | NA | NA | 5% | NA | NA | | | Q/Q Growth rate | 57% | 26% | 59% | 30% | 17% | 7% | 50% | -8% | 12% | 12% | 15% | 29% | 12% | 9% |
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| | | | | | | | | | | | | | | | | | | Profitability | | | | | | | | | | | | | | | | | Income from operations | 84706 | 104784 | 66556 | 86418 | 155323 | 170958 | 11112 | 302799 | 442,77 | 475698 | 529171 | 569,64 | 742699 | 815372 | | | As % of revenues | 34% | 34% | 17% | 17% | 24% | 24% | 1% | 29% | 35% | 34% | 34% | 30% | 33% | 33% | | | Net income | 25,8 | 32168 | 20426 | 27254 | 63973 | 79063 | 51983 | 204,1 | 369193 | 342814 | 381182 | 372208 | 592291 | 721077 | | | As % of revenues | 10% | 10% | 5% | 5% | 10% | 11% | 6% | 20% | 29% | 25% | 24% | 19% | 26% | 29% | | | EPS (as reported) | | | | | | | | | | | | | | | | | Basic | $0.2 | $0.24 | $0.14 | $0.19 | $0.42 | $0.51 | $0.25 | $0.78 | $1.39 | $1.27 | $1.39 | $1.28 | $2.02 | $2.39 | | | Diluted | $0.1 | $0.12 | $0.08 | $0.1 | $0.24 | $0.3 | $0.19 | $0.71 | $1.29 | $1.19 | $1.32 | $1.22 | $1.95 | $2.33 | | | Number of shares ('000) | | | | | | | | | | | | | | | | | Basic | 127339 | 135,71 | 141412 | 146326 | 151084 | 155441 | 205007 | 261172 | 266106 | 270729 | 275,13 | 291411 | 293896 | 301,41 | | | Diluted | 248687 | 257361 | 257943 | 262561 | 264183 | 266263 | 274735 | 285944 | 286612 | 287238 | 289673 | 303972 | 304123 | 310038 | | | Balance Sheet & Cash Flow Statement | | | | | | | | | | | | | | | | | | 2003 | | | | 2004 | | | | 2005 | | | | 2006 | | | | | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | | | Cash & marketable securities | 233144 | 226684 | 299023 | 334717 | 454888 | 548687 | 1858356 | 2132297 | 2507298 | 2947967 | 7630147 | 8034247 | 8429028 | 9821632 | | | Accounts receivable | 79811 | 98479 | 118879 | 154,69 | 179505 | 191187 | 233057 | 311836 | 371905 | 419238 | 541815 | 687976 | 844378 | 885088 | | | DSO (in days, using ending AR) | 29 | 29 | 27 | 27 | 25 | 25 | 26 | 28 | 27 | 28 | 31 | 33 | 34 | 33 | | | Property and equipment, net | 76486 | 99,11 | 147413 | 188255 | 253006 | 320718 | 362609 | 378916 | 474829 | 576597 | 803078 | 961749 | 1209681 | 1799766 | | | Total assets | 420,97 | 574976 | 725048 | 871458 | 1079454 | 1328022 | 2888518 | 3313351 | 3865199 | 4497718 | 9451001 | 10271813 | 11294870 | 14396006 | | | Cash flow from operations | 113198 | 63976 | 131727 | 86544 | 208045 | 162559 | 238343 | 368097 | 529622 | 624619 | 646747 | 658434 | 824804 | 840586 |
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| | | | | | | | | | | | | | | | | | | Capital expenditures | 29,55 | 31003 | 59757 | 56491 | 86037 | 96246 | 77632 | 59,08 | 142391 | 157463 | 292532 | 245831 | 344938 | 699 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Supplemental Information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2003 | | | | 2004 | | | | 2005 | | | | 2006 | | | | | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | | | Stock-based compensation | 36418 | 34165 | 73794 | 84984 | 76473 | 74761 | 67981 | 59531 | 48908 | 47338 | 46308 | 58154 | 114664 | 109149 | | | Int'l revenues as % of total revenues | 27% | 28% | 30% | 30% | 31% | 31% | 35% | 35% | 39% | 39% | 39% | 38% | 42% | 42% | | | Ending permanent headcount | 889 | 1154 | 1406 | 1628 | 1907 | 2292 | 2668 | 3021 | 3482 | 4183 | 4989 | 5,68 | 6,79 | 7942 | | | Sequential headcount growth rate | 30% | 30% | 22% | 16% | 17% | 20% | 16% | 13% | 15% | 20% | 19% | 14% | 20% | 17% |
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