Google Announces Financial Results For Q3 2010

October 14, 2010 by · Leave a Comment
Filed under: Americas, Finance, Internet, New Media, Technology 

http://t2.gstatic.com/images?q=tbn:ANd9GcSVJyK9jcxHEi9q5g4JcLTcJj02gKN94dYRmbXI74busd2GTlI&t=1&usg=__y__WnKfIx3nHCb2giejdiN4Wlw4=MOUNTAIN VIEW, CA, October 14, 2010 – Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended September 30, 2010.

“Google had an excellent quarter,” said Eric Schmidt, CEO of Google. “Our core business grew very well, and our newer businesses — particularly display and mobile — continued to show significant momentum. Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda.”

Q3 Financial Summary
Google reported revenues of $7.29 billion for the quarter ended September 30, 2010, an increase of 23% compared to the third quarter of 2009. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2010, TAC totaled $1.81 billion, or 26% of advertising revenues.

Google reports operating income, operating margin, net income, and earnings per share (EPS) on a GAAP and non-GAAP basis. The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures in the accompanying financial tables. Read more