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Mountain View (pte045/02.02.2005/16:15) - Search engine giant Google http://www.google.com has announced record revenues of 1.032 billion dollars for its fourth quarter in 2004. In the fourth quarter of 2004, the company had a net income of 204 million dollars. As the company reports in a statement on its website, its net income for 2004 has risen by 278 per cent to 399 million dollars. The revenue for 2004 rose from 1.5 billion in 2003 to 3.2 billion in 2004. http://www.google.com/intl/en/press/pressrel/revenues_q404.html
"We had an exceptional quarter. Revenues and profits increased significantly, our execution was solid across the company and most importantly, our relationship with our users, partners and advertisers became even stronger," said Eric Schmidt, Google's chief executive officer. "All of this happened while we continued to innovate, expand around the world and make strategic, long-term investments," he added. In the fourth quarter, the revenues from Google-owned sites also increased significantly, generating 530 million dollars, a 51 per cent share of total revenues.
Google's partner sites, through AdSense programs, made 490 million dollars in the fourth quarter, 48 per cent of total revenues and a 92 increase over the Network revenues generated in the same quarter last year. Google's strong results have even surprised the harshest of critics and investors. At Wall Street yesterday, Google's shares were at 191.9 dollars, down 3.72 dollars. Following the announcement, the stock rose again to 209.47 dollars. Half a year ago, Google's shares were being offered at 85 dollars, reports the Wall Street Journal.
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