Financial Accounting Blog

Thursday, April 29, 2004

IPO. According to CNNMoney, Google has finally filed for an IPO with the SEC (worth $2.7 billion). In the filing, Google disclosed its financial numbers.

In the filing, Google said that it generated revenues of $961.9 million in 2003 and reported a net profit of $106.5 million. Sales rose 177 percent from a year ago although earnings increased by just 6 percent.
For the first quarter of 2004, Google reported sales of $389.6 million, an increase of 118 percent from a year ago. Net income was $64 million, up 148 percent from the first quarter of 2003.