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GOOGLE ANNOUNCES FIRST QUARTER 2007 RESULTS

MOUNTAIN VIEW, Calif. - April 19, 2007 - Google Inc. (NASDAQ: GOOG)
today announced financial results for the quarter ended March 31,
2007.

"The global growth of our core search and ads business and our focus
on building our partnerships drove our strong results in the quarter,"
said Eric Schmidt, CEO of Google. "We continued to expand our
worldwide footprint, adding important new partners and growing our
platform to increase our ability to deliver targeted and measurable
ads. The ongoing expansion of our network allows us to improve the
user experience through new opportunities and programs."

Q1 Financial Summary

Google reported revenues of $3.66 billion for the quarter ended March
31, 2007, an increase of 63% compared to the first quarter of 2006 and
an increase of 14% compared to the fourth quarter of 2006. Google
reports its revenues, consistent with GAAP, on a gross basis without
deducting traffic acquisition costs, or TAC. In the first quarter of
2007, TAC totaled $1.13 billion, or 31% of advertising revenues.

Google reports operating income, net income, and earnings per share
(EPS) on a GAAP and non-GAAP basis. The non-GAAP measures are
described below and are reconciled to the corresponding GAAP measures
in the accompanying financial tables.

· GAAP operating income for the first quarter of 2007 was $1.22
billion, or 33% of revenues. This compares to GAAP operating income
of $1.06 billion, or 33% of revenues, in the fourth quarter of 2006.
Non-GAAP operating income in the first quarter of 2007 was $1.41
billion, or 38% of revenues. This compares to non-GAAP operating
income of $1.20 billion, or 37% of revenues, in the fourth quarter of
2006.

· GAAP net income for the first quarter of 2007 was $1.0 billion as
compared to $1.03 billion in the fourth quarter of 2006. Non-GAAP net
income in the first quarter of 2007 was $1.16 billion, compared to
$997 million in the fourth quarter of 2006.

· GAAP EPS for the first quarter of 2007 was $3.18 on 315 million
diluted shares outstanding, compared to $3.29 for the fourth quarter
of 2006 on 313 million diluted shares outstanding. Non-GAAP EPS in
the first quarter of 2007 was $3.68, compared to $3.18 in the fourth
quarter of 2006.

· Non-GAAP operating income, non-GAAP net income, and non-GAAP EPS are
computed net of stock-based compensation (SBC). In addition, in the
fourth quarter of 2006, we excluded from the calculation of non-GAAP
net income and EPS tax benefits of $90 million related to the advanced
pricing agreement we entered into with the IRS in December 2006 and
$43 million related to the 2006 R&D tax credit. In the first quarter
of 2007, the charge related to SBC was $184 million as compared to
$134 million in the fourth quarter of 2006. Tax effects related to
SBC have also been excluded from these non-GAAP measures. The tax
benefit related to SBC was $27 million in the first quarter of 2007
and $35 million in the fourth quarter of 2006. Reconciliations of non-
GAAP measures to GAAP operating income, net income, and EPS are
included at the end of this release.


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View Full Article: Google Press Center: Press Release

News Source: Google

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wow thats some big bucks man i wish i had the cash to buy stock when it first came out

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