Google+ hits 90 million users

Google announced its fourth-quarter earnings today and shared that its Google+ social networking site now has over 90 million users:

Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter and the fiscal year ended December 31, 2011.

"Google had a really strong quarter ending a great year. Full year revenue was up 29%, and our quarterly revenue blew past the $10 billion mark for the first time,� said Larry Page, CEO of Google. �I am super excited about the growth of Android, Gmail, and Google+, which now has 90 million users globally � well over double what I announced just three months ago. By building a meaningful relationship with our users through Google+ we will create amazing experiences across our services. I�m very excited about what we can do in 2012 � there are tremendous opportunities to help users and grow our business.�

Q4 Financial Summary
Google reported revenues of $10.58 billion for the quarter ended December 31, 2011, an increase of 25% compared to the fourth quarter of 2010. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the fourth quarter of 2011, TAC totaled $2.45 billion, or 24% of advertising revenues.

Google reports operating income, operating margin, net income, and earnings per share (EPS) on a GAAP and non-GAAP basis. The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures at the end of this release.

GAAP operating income in the fourth quarter of 2011 was $3.51 billion, or 33% of revenues. This compares to GAAP operating income of $2.98 billion, or 35% of revenues, in the fourth quarter of 2010. Non-GAAP operating income in the fourth quarter of 2011 was $4.04 billion, or 38% of revenues. This compares to non-GAAP operating income of $3.38 billion, or 40% of revenues, in the fourth quarter of 2010.

GAAP net income in the fourth quarter of 2011 was $2.71 billion, compared to $2.54 billion in the fourth quarter of 2010. Non-GAAP net income in the fourth quarter of 2011 was $3.13 billion, compared to $2.85 billion in the fourth quarter of 2010.

GAAP EPS in the fourth quarter of 2011 was $8.22 on 329 million diluted shares outstanding, compared to $7.81 in the fourth quarter of 2010 on 326 million diluted shares outstanding. Non-GAAP EPS in the fourth quarter of 2011 was $9.50, compared to $8.75 in the fourth quarter of 2010.

Non-GAAP operating income and non-GAAP operating margin exclude the expenses related to stock-based compensation (SBC). Non-GAAP net income and non-GAAP EPS exclude the expenses related to SBC and the related tax benefits. In the fourth quarter of 2011, the charge related to SBC was $536 million, compared to $396 million in the fourth quarter of 2010. The tax benefit related to SBC was $114 million in the fourth quarter of 2011 and $89 million in the fourth quarter of 2010. Reconciliations of non-GAAP measures to GAAP operating income, operating margin, net income, and EPS are included at the end of this release.

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