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Google Reports Q3 Earnings

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Google has reported earnings of $.19/share for Q3 2004. Revenue rose 105 percent from a year ago to $805.9 million.

Google-Sites Revenue-Google-owned sites generated $411.7 million or 51 percent of total revenue. This represents an increase of 99 percent over the third quarter of 2003.

The Google Network-Revenue generated on Google's partner sites, through AdSense programs, contributed $384.3 million, or 48 percent of total revenue, a 120 percent increase over the Network revenue generated in the same quarter last year.

On a worldwide basis, Google employed 2,668 full time employees as of Sept. 30, 2004, up from 2,292 as of June 30, 2004.

Here's the complete news release and some analysis from CNN/Money.

I've posted some random notes from the conference call below.

+ Eric Schmidt: Google remains committed to remaining an unconventional company. Very pleased with performance.

+ Larry Page: Business strategy solving problems for many on a global scale.
Prepetually working on ways to grow indexes.
Quarter Highlights:
Google Print, Google SMS, and Google Desktop.
Began testing image ads.
Top 50 advertisers represented only 15% of growth
70% of engineering resources focused on enhancement of core services
30% focuses on emerging businesses (GMail, Picasa, Blogger)

+ Brin: Higlights AOL Europe announcement
New business with Google Search Appliance (Morgan Stanley and British Library)
International Operations account for 35% of revenue

Eric Schmidt: Continues Q3 highlights including Picasa
"Google is delivering on it's commitments."

Q. What level do beta products (Froogle, GMail) contribute to revenue?
A. A small percentage. They do contribute to brand loyalty.

Q. How will you monetize desktop search?
A. Monetization occurs after a product becomes successful with end users. We will deal with it as it emerges.

Images ads are an important new product and have a very exciting future.

Q. What features are advertising customers most excited about.
+ Improved targeting
+ Conversion tracking

Image ads are "fairly broadly" available and they are getting more publishers.

How does branded/image/display ads fit in your plans?
Images ads are somewhat less targeted but they are more interesting for users.

Are users getting fatigued with sponsored links?
We have not seen this. Much more stringent requirements for ads.

Q. Google portal or platform?
Not a portal and don't have a portal approach. We look at each piece of what an end user needs. Then we build it (or by it) and integrate it. GMail is an example. Solve a problem in a new and better way.


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