Google Financial Report - Third Quarter 2008 Results

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Google Financial Report - Third Quarter 2008 Results

Google reported its third quarter financial report on October 16th. The third quarter 2008 results were for the quarter ended September 30. 

Google LogoStock performance of Google Stock will not be discussed in this article, and neither will a fiancial statement analysis of Google's third quarter results. The article will merely to provide investors with a quick look at google's books. Google's Income Statement, Balance Sheet, and Cash Flow will be presented in the article.

A Quick Summary of Google's Third Quarter Results


Google Inc had a revenues in tune of $5.54 billion dollars for this quarter, which was a 31% increase over last years's third quarter. The revenues increased 3% compared to previous (second) quarter of 2008. The following are GAAP EPS estimates of Google - Earnings Per Share (EPS) for Google this quarter was $4.24, while second quarter's Earnings Per Share FY 2008 stood at $3.92.

Google Balance Sheets

You can look at Google Balance Sheets Below


December 31,
2007
 *

 

September 30,
2008

 

 

 

 

 

(unaudited)

Assets

 

 

 

 

Current assets:

 

 

 

 

   Cash and cash equivalents

 

 $             6,081,593

 $             8,370,469

   Marketable securities

 

                8,137,020

                6,042,140

   Accounts receivable, net of allowance

 

                2,162,521

                2,541,492

   Deferred income taxes, net

 

                      68,538

                   111,401

   Income taxes receivable

 

                   145,253

                               -  

   Prepaid revenue share, expenses and other assets

 

                   694,213

                   897,349

 

 

 


 


   Total current assets

 

              17,289,138

              17,962,851

 

 Prepaid revenue share, expenses and other assets, non-current

 

                   168,530

                   426,478

 Deferred income taxes, net, non-current

 

                      33,219

                   165,448

 Non-marketable equity securities

 

                1,059,694

                1,100,896

 Property and equipment, net

 

                4,039,261

                5,213,167

 Intangible assets, net

 

                   446,596

                1,047,717

 Goodwill

 

                2,299,368

                4,821,646

 

 

 


 


Total assets

 

 $          25,335,806

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 $          30,738,203

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Liabilities and Stockholders' Equity 

 Current liabilities:

 

   Accounts payable

 

 $                282,106

 $                240,706

   Accrued compensation and benefits

 

                   588,390

                   622,658

   Accrued expenses and other current liabilities

 

                   465,032

                   532,627

   Accrued revenue share

 

                   522,001

                   515,949

   Deferred revenue

 

                   178,073

                   200,378

   Income taxes payable

 

                               -  

                      99,959

 

 

 


 

 


   Total current liabilities

 

                2,035,602

                2,212,277

 

 

Deferred revenue, non-current

 

                      30,249

                      29,992

Deferred income taxes, net, non-current

 

                               -  

                      20,420

Income taxes payable, non-current

 

                   478,372

                   783,348

Other long-term liabilities

 

                   101,904

                   161,075

 

Stockholders' equity:

 

   Common stock

 

                           313

                           315

   Additional paid-in capital

 

              13,241,221

              14,194,197

   Accumulated other comprehensive income

 

                   113,373

                   101,162

   Retained earnings

 

                9,334,772

              13,235,417

 

 

 


 


Total stockholders' equity

 

              22,689,679

              27,531,091

 

 

 


 


Total liabilities and stockholders' equity

 

 $          25,335,806

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 $          30,738,203

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*Derived from audited financial statements.





Google Inc.
Consolidated Statements of Income
(In thousands, except per share amounts, unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,


 

Nine Months Ended
September 30,


 

 

2007

 

2008

 

2007

 

2008

 

 

(unaudited)

Revenues

 

 $       4,231,351

 $       5,541,391

 $     11,767,307

 $     16,094,646

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

Cost of revenues (including stock-based compensation expense of $4,031, $10,729, $16,080, $29,240)

 

          1,662,579

          2,173,390

          4,693,261

          6,431,501

Research and development (including stock-based compensation expense of $130,655, $169,263, $408,425, $550,343)

 

              548,712

              704,571

          1,489,202

          2,059,851

Sales and marketing (including stock-based compensation expense of $29,918, $64,497, $93,553, $149,666)

 

              380,820

              508,801

          1,038,976

          1,440,252

General and administrative (including stock-based compensation expense of $33,352, $35,550, $105,288, $104,345)

 

              321,398

              411,964

              902,202

          1,296,178