Google fourth quarter 2011 net rises to $2.71 billion

Internet search giant Google Inc today reported fourth quarter 2011 net income of $2.71 billion, against net income of $2.54 billion in the fourth quarter of 2010.

Operating income for the fourth quarter of 2011 was $3.51 billion, or 33 per cent of revenues. This compares with operating income of $2.98 billion, or 35 per cent of revenues, in the fourth quarter of 2010.

Earnings per share (EPS) during the fourth quarter of 2011 was $8.22 on 329 million diluted shares outstanding, compared with $7.81 in the fourth quarter of 2010 on 326 million diluted shares outstanding.

Google reported revenues of $10.58 billion for the quarter ended 31 December 2011, an increase of 25 per cent compared to the fourth quarter of 2010.

Google-owned sites generated revenues of $7.29 billion, or 69-per cent of total revenues in the fourth quarter of 2011. This represents a 29-per cent increase over fourth quarter 2010 revenues of $5.67 billion, Google said in a release.

Google's partner sites generated revenues of $2.88 billion, or 27 per cent of total revenues during the quarter. This represents a 15-per cent increase from fourth quarter 2010 network revenues of $2.50 billion.