Google Q4 Profit Triples, Beats Wall Street Estimates
Google has just released their Q4 numbers and it looks like they’ve blown away estimations.
Fourth quarter net income surged to $1.03 billion from $372 million during the same period in 2004!!
Sales (excluding payments to ad partners) grew 70%+ to $2.23 billion.
Wall Street had been expecting $2.92 per share and got $3.29.
Google-owned sites generated 62% of total revenue and posted a gross revenue increase of 80% from a year ago. Google’s partner sites generated 37% of total revenue and showed 50% growth from a year ago.
Despite all that growth, the stock is taking a hammering in after-hours trading.