Silicon Valley: Internet bellwether, Google has beaten all records with nearly tripled profits amounting to over $1 billion in its fourth quarter.
With increasing online ad sales the Internet search engine giant Google rose to 67 per cent posting $1.03 billion net earnings during the final three months of 2006.
"Our impressive performance in the fourth quarter demonstrates the continuing strength of our business model," Google CEO Eric Schmidt said.
Google’s fourth-quarter revenue was quoted at $2.23 billion which does not takes into account commission paid by the content partners.
"Business continues to be very good here at Google. Looks like we are gaining share in almost every country," Eric added.
Approximately $1.4 billion, or 44 per cent of the total Google revenue for the year, came from the markets outside of the United States.
British and US markets combined accounted for 75 per cent of Google's revenues. Capital expenditures for the quarter totaled $367 million, bringing total capital expenditures for 2006 to $1.9 billion.
The majority of Google's capital expenditure was related to IT infrastructure investments, including data centers, servers and networking equipment.
With PTI inputs
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