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July 2023
June 2023
April 2023
April 2023
April 2023
February 2023
January 2023
January 2023
December 2022
October 2022
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
Revenues | $ | 55,314 | $ | 68,011 | |||||||
Change in revenues year over year | 34 | % | 23 | % | |||||||
Change in constant currency revenues year over year(1) | 32 | % | 26 | % | |||||||
Operating income | $ | 16,437 | $ | 20,094 | |||||||
Operating margin | 30 | % | 30 | % | |||||||
Other income (expense), net | $ | 4,846 | $ | (1,160) | |||||||
Net income | $ | 17,930 | $ | 16,436 | |||||||
Diluted EPS | $ | 26.29 | $ | 24.62 | |||||||
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
Google Search & other | $ | 31,879 | $ | 39,618 | |||||||
YouTube ads | 6,005 | 6,869 | |||||||||
Google Network | 6,800 | 8,174 | |||||||||
Google advertising | 44,684 | 54,661 | |||||||||
Google other | 6,494 | 6,811 | |||||||||
Google Services total | 51,178 | 61,472 | |||||||||
Google Cloud | 4,047 | 5,821 | |||||||||
Other Bets | 198 | 440 | |||||||||
Hedging gains (losses) | (109) | 278 | |||||||||
Total revenues | $ | 55,314 | $ | 68,011 | |||||||
Total TAC | $ | 9,712 | $ | 11,990 | |||||||
Number of employees | 139,995 | 163,906 |
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
Operating income (loss): | |||||||||||
Google Services | $ | 19,546 | $ | 22,920 | |||||||
Google Cloud | (974) | (931) | |||||||||
Other Bets | (1,145) | (1,155) | |||||||||
Corporate costs, unallocated | (990) | (740) | |||||||||
Total income from operations | $ | 16,437 | $ | 20,094 |
Investor relations | Media | ||||
investor-relations@abc.xyz | press@abc.xyz |
As of December 31, | As of March 31, | ||||||||||
2021 | 2022 | ||||||||||
(unaudited) | |||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 20,945 | $ | 20,886 | |||||||
Marketable securities | 118,704 | 113,084 | |||||||||
Total cash, cash equivalents, and marketable securities | 139,649 | 133,970 | |||||||||
Accounts receivable, net | 39,304 | 34,703 | |||||||||
Income taxes receivable, net | 966 | 919 | |||||||||
Inventory | 1,170 | 1,369 | |||||||||
Other current assets | 7,054 | 6,892 | |||||||||
Total current assets | 188,143 | 177,853 | |||||||||
Non-marketable securities | 29,549 | 30,544 | |||||||||
Deferred income taxes | 1,284 | 1,388 | |||||||||
Property and equipment, net | 97,599 | 104,218 | |||||||||
Operating lease assets | 12,959 | 12,992 | |||||||||
Intangible assets, net | 1,417 | 1,313 | |||||||||
Goodwill | 22,956 | 23,010 | |||||||||
Other non-current assets | 5,361 | 5,778 | |||||||||
Total assets | $ | 359,268 | $ | 357,096 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 6,037 | $ | 3,436 | |||||||
Accrued compensation and benefits | 13,889 | 9,803 | |||||||||
Accrued expenses and other current liabilities | 31,236 | 33,051 | |||||||||
Accrued revenue share | 8,996 | 8,116 | |||||||||
Deferred revenue | 3,288 | 3,198 | |||||||||
Income taxes payable, net | 808 | 4,344 | |||||||||
Total current liabilities | 64,254 | 61,948 | |||||||||
Long-term debt | 14,817 | 14,791 | |||||||||
Deferred revenue, non-current | 535 | 499 | |||||||||
Income taxes payable, non-current | 9,176 | 9,406 | |||||||||
Deferred income taxes | 5,257 | 2,843 | |||||||||
Operating lease liabilities | 11,389 | 11,363 | |||||||||
Other long-term liabilities | 2,205 | 2,242 | |||||||||
Total liabilities | 107,633 | 103,092 | |||||||||
Contingencies | |||||||||||
Stockholders’ equity: | |||||||||||
Preferred stock, $0.001 par value per share, 100,000 shares authorized; no shares issued and outstanding | 0 | 0 | |||||||||
Class A, Class B, and Class C stock and additional paid-in capital, $0.001 par value per share: 15,000,000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 662,121 (Class A 300,737, Class B 44,665, Class C 316,719) and 658,763 (Class A 300,763, Class B 44,404, Class C 313,596) shares issued and outstanding | 61,774 | 62,832 | |||||||||
Accumulated other comprehensive income (loss) | (1,623) | (4,049) | |||||||||
Retained earnings | 191,484 | 195,221 | |||||||||
Total stockholders’ equity | 251,635 | 254,004 | |||||||||
Total liabilities and stockholders’ equity | $ | 359,268 | $ | 357,096 |
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
(unaudited) | |||||||||||
Revenues | $ | 55,314 | $ | 68,011 | |||||||
Costs and expenses: | |||||||||||
Cost of revenues | 24,103 | 29,599 | |||||||||
Research and development | 7,485 | 9,119 | |||||||||
Sales and marketing | 4,516 | 5,825 | |||||||||
General and administrative | 2,773 | 3,374 | |||||||||
Total costs and expenses | 38,877 | 47,917 | |||||||||
Income from operations | 16,437 | 20,094 | |||||||||
Other income (expense), net | 4,846 | (1,160) | |||||||||
Income before income taxes | 21,283 | 18,934 | |||||||||
Provision for income taxes | 3,353 | 2,498 | |||||||||
Net income | $ | 17,930 | $ | 16,436 | |||||||
Basic earnings per share of Class A, Class B, and Class C stock | $ | 26.63 | $ | 24.90 | |||||||
Diluted earnings per share of Class A, Class B, and Class C stock | $ | 26.29 | $ | 24.62 | |||||||
Number of shares used in basic earnings per share calculation | 673,220 | 660,171 | |||||||||
Number of shares used in diluted earnings per share calculation | 682,071 | 667,551 |
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
(unaudited) | |||||||||||
Operating activities | |||||||||||
Net income | $ | 17,930 | $ | 16,436 | |||||||
Adjustments: | |||||||||||
Depreciation and impairment of property and equipment | 2,525 | 3,591 | |||||||||
Amortization and impairment of intangible assets | 228 | 191 | |||||||||
Stock-based compensation expense | 3,745 | 4,504 | |||||||||
Deferred income taxes | 1,100 | (2,090) | |||||||||
(Gain) loss on debt and equity securities, net | (4,751) | 1,437 | |||||||||
Other | (255) | 140 | |||||||||
Changes in assets and liabilities, net of effects of acquisitions: | |||||||||||
Accounts receivable | 2,794 | 4,364 | |||||||||
Income taxes, net | 785 | 3,820 | |||||||||
Other assets | 7 | (776) | |||||||||
Accounts payable | (982) | (2,373) | |||||||||
Accrued expenses and other liabilities | (3,530) | (3,216) | |||||||||
Accrued revenue share | (444) | (828) | |||||||||
Deferred revenue | 137 | (94) | |||||||||
Net cash provided by operating activities | 19,289 | 25,106 | |||||||||
Investing activities | |||||||||||
Purchases of property and equipment | (5,942) | (9,786) | |||||||||
Purchases of marketable securities | (36,426) | (28,462) | |||||||||
Maturities and sales of marketable securities | 39,248 | 29,779 | |||||||||
Purchases of non-marketable securities | (646) | (776) | |||||||||
Maturities and sales of non-marketable securities | 19 | 12 | |||||||||
Acquisitions, net of cash acquired, and purchases of intangible assets | (1,666) | (173) | |||||||||
Other investing activities | 30 | 355 | |||||||||
Net cash used in investing activities | (5,383) | (9,051) | |||||||||
Financing activities | |||||||||||
Net payments related to stock-based award activities | (2,184) | (2,916) | |||||||||
Repurchases of stock | (11,395) | (13,300) | |||||||||
Proceeds from issuance of debt, net of costs | 900 | 16,422 | |||||||||
Repayments of debt | (937) | (16,420) | |||||||||
Proceeds from sale of interest in consolidated entities, net | 10 | 0 | |||||||||
Net cash used in financing activities | (13,606) | (16,214) | |||||||||
Effect of exchange rate changes on cash and cash equivalents | (143) | 100 | |||||||||
Net increase (decrease) in cash and cash equivalents | 157 | (59) | |||||||||
Cash and cash equivalents at beginning of period | 26,465 | 20,945 | |||||||||
Cash and cash equivalents at end of period | $ | 26,622 | $ | 20,886 |
Quarter Ended March 31, 2022 | |||||
Net cash provided by operating activities | $ | 25,106 | |||
Less: purchases of property and equipment | (9,786) | ||||
Free cash flow | $ | 15,320 |
Quarter Ended | % Change from Prior Year | ||||||||||||||||
March 31, 2020 | March 31, 2021 | ||||||||||||||||
EMEA revenues | $ | 12,845 | $ | 17,031 | 33 | % | |||||||||||
EMEA constant currency revenues | 16,102 | 25 | % | ||||||||||||||
APAC revenues | 7,238 | 10,455 | 44 | % | |||||||||||||
APAC constant currency revenues | 10,092 | 39 | % | ||||||||||||||
Other Americas revenues | 2,157 | 2,905 | 35 | % | |||||||||||||
Other Americas constant currency revenues | 3,096 | 44 | % | ||||||||||||||
United States revenues | 18,870 | 25,032 | 33 | % | |||||||||||||
Hedging gains (losses) | 49 | (109) | |||||||||||||||
Total revenues | $ | 41,159 | $ | 55,314 | 34 | % | |||||||||||
Revenues, excluding hedging effect | $ | 41,110 | $ | 55,423 | |||||||||||||
Exchange rate effect | (1,101) | ||||||||||||||||
Total constant currency revenues | $ | 54,322 | 32 | % |
Quarter Ended | |||||||||||||||||
March 31, 2021 | March 31, 2022 | % Change from Prior Year | |||||||||||||||
EMEA revenues | $ | 17,031 | $ | 20,317 | 19 | % | |||||||||||
EMEA constant currency revenues | 21,628 | 27 | % | ||||||||||||||
APAC revenues | 10,455 | 11,841 | 13 | % | |||||||||||||
APAC constant currency revenues | 12,440 | 19 | % | ||||||||||||||
Other Americas revenues | 2,905 | 3,842 | 32 | % | |||||||||||||
Other Americas constant currency revenues | 3,923 | 35 | % | ||||||||||||||
United States revenues | 25,032 | 31,733 | 27 | % | |||||||||||||
Hedging gains (losses) | (109) | 278 | |||||||||||||||
Total revenues | $ | 55,314 | $ | 68,011 | 23 | % | |||||||||||
Revenues, excluding hedging effect | $ | 55,423 | $ | 67,733 | |||||||||||||
Exchange rate effect | 1,991 | ||||||||||||||||
Total constant currency revenues | $ | 69,724 | 26 | % |
Quarter Ended | |||||||||||||||||
December 31, 2021 | March 31, 2022 | % Change from Prior Quarter | |||||||||||||||
EMEA revenues | $ | 23,153 | $ | 20,317 | (12) | % | |||||||||||
EMEA constant currency revenues | 20,836 | (10) | % | ||||||||||||||
APAC revenues | 12,732 | 11,841 | (7) | % | |||||||||||||
APAC constant currency revenues | 11,975 | (6) | % | ||||||||||||||
Other Americas revenues | 4,447 | 3,842 | (14) | % | |||||||||||||
Other Americas constant currency revenues | 3,854 | (13) | % | ||||||||||||||
United States revenues | 34,790 | 31,733 | (9) | % | |||||||||||||
Hedging gains (losses) | 203 | 278 | |||||||||||||||
Total revenues | $ | 75,325 | $ | 68,011 | (10) | % | |||||||||||
Revenues, excluding hedging effect | $ | 75,122 | $ | 67,733 | |||||||||||||
Exchange rate effect | 665 | ||||||||||||||||
Total constant currency revenues | $ | 68,398 | (9) | % |
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
Interest income | $ | 345 | $ | 414 | |||||||
Interest expense | (76) | (83) | |||||||||
Foreign currency exchange gain (loss), net | 113 | (73) | |||||||||
Gain (loss) on debt securities, net | (86) | (367) | |||||||||
Gain (loss) on equity securities, net(1) | 4,837 | (1,070) | |||||||||
Performance fees | (665) | 233 | |||||||||
Income (loss) and impairment from equity method investments, net | 5 | (89) | |||||||||
Other | 373 | (125) | |||||||||
Other income (expense), net | $ | 4,846 | $ | (1,160) |
Quarter Ended March 31, | |||||||||||
2021 | 2022 | ||||||||||
Revenues: | |||||||||||
Google Services | $ | 51,178 | $ | 61,472 | |||||||
Google Cloud | 4,047 | 5,821 | |||||||||
Other Bets | 198 | 440 | |||||||||
Hedging gains (losses) | (109) | 278 | |||||||||
Total revenues | $ | 55,314 | $ | 68,011 | |||||||
Operating income (loss): | |||||||||||
Google Services | $ | 19,546 | $ | 22,920 | |||||||
Google Cloud | (974) | (931) | |||||||||
Other Bets | (1,145) | (1,155) | |||||||||
Corporate costs, unallocated | (990) | (740) | |||||||||
Total income from operations | $ | 16,437 | $ | 20,094 |
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Ticker: GOOGLEvents:
CIK: 1652044
Form Type: 8-K Corporate News
Accession Number: 0001652044-22-000025
Submitted to the SEC: Tue Apr 26 2022 4:01:32 PM EST
Accepted by the SEC: Tue Apr 26 2022
Period: Tuesday, April 26, 2022
Industry: Computer Programming Data Processing