Profit rose to $2.7 bil from $2.5 bil the year before
Giant Google reported on Thursday that net profit in the fourth quarter of 2011 rose to $2.7 billion from $2.5 billion the year before as revenue jumped 25% to $10.6 billion.
But the earnings came in shy of Wall Street’s expectations, and the stock dipped in after-hours trading.
“Google had a really strong quarter ending a great year,” said CEO Larry Page. “I am super excited about the growth of Android, Gmail and Google+, which now has 90 million users globally — well over double what I announced just three months ago. By building a meaningful relationship with our users through Google+, we will create amazing experiences across our services. I’m very excited about what we can do in 2012 — there are tremendous opportunities to help users and grow our business.”
Google-owned sites generated revenues of $7.29 billion, or 69% of total revenues, in the fourth quarter of 2011. This represents a 29% increase over fourth quarter 2010 revenues of $5.67 billion.
International revenue was 53% of the total.