Google Announces Record Revenues for Second Quarter Fiscal 2005

Google Announces Record Revenues for Second Quarter Fiscal 2005

Google Inc. (Nasdaq: GOOG) today announced financial results for the quarter ended June 30, 2005.

“We had an excellent quarter. We continued to innovate, we continued to execute and we stayed focused on our users,” said Eric Schmidt, Google chief executive officer. “Google had another solid performance.”

Google reported record revenues of $1.384 billion for the quarter ended June 30, 2005, up 98% year over year. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs or TAC, the portion of revenues shared with partners.

* Income from operations, on a GAAP basis, was $476 million, or 34.4% of revenues for the quarter ended June 30, 2005 compared to $171 million or 24.4% of revenues for the second quarter of 2004.

* Income from operations included a $47 million non-cash, stock-based compensation charge compared to a $75 million non-cash, stock-based compensation charge in the prior year’s second quarter.

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