Google announced its second quarter 2010 results, with revenues of $6.82 billion (up 24% year-over-year). CEO Eric Schmidt said core search advertising grew along with emerging businesses. Operating income was $2.37 billion (35% of revenues) on a GAAP basis and $2.67 billion (39%) non-GAAP. Net income was $1.84 billion GAAP and $2.08 billion non-GAAP. The company also saw increased paid clicks, cost-per-click, and cash flow.
Google reported strong financial results for the third quarter of 2010, with revenues of $7.29 billion, up 23% from the previous year. Revenue growth was driven by increases in paid clicks and cost-per-click on Google sites and its AdSense network. Google's CEO said the company's core business and newer areas like display and mobile grew well. Operating income increased from the prior year both before and after excluding stock-based compensation expenses, though expenses also rose with growth in headcount and capital expenditures.
Google announced its financial results for the first quarter of 2009. While revenues were down slightly from the previous quarter, they grew 6% over the first quarter of 2008. Operating income was $1.88 billion, or 34% of revenues. Net income was $1.42 billion, with earnings per share of $4.49. The company continued to see strong growth in paid clicks and remains focused on long-term investments.
NCR announced its first-quarter 2009 results, reporting a loss from continuing operations of $15 million compared to income of $49 million in the first quarter of 2008. Revenue declined 15% to $1.01 billion due to a difficult global economic environment. Cash from operating activities was $38 million. NCR updated its full-year 2009 guidance, now expecting revenues to decline 10-15% and non-pension operating income to be between $310-350 million, reflecting a $60 million investment in expanding its entertainment solutions portfolio.
The document provides a financial summary of the third quarter of 2006 compared to the third quarter of 2005. Key points include:
- Worldwide revenues decreased 10% to $3.2 billion due to declines in volumes and prices across several strategic product groups.
- Gross profit decreased 5% to $874 million but the gross profit margin increased 1.4 percentage points to 27.3% due to manufacturing cost reductions and positive price/mix impacts.
- Loss from continuing operations decreased from $915 million to $37 million, driven by improvements in gross profit margin and reductions in spending, partially offset by higher interest expenses.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
eBay reported record financial results for Q2 2003, with net revenues of $509.3 million (up 91% year-over-year). Earnings per share were $0.33 (GAAP) and $0.37 (pro forma). The company also announced plans for a 2-for-1 stock split and raised its full-year 2003 revenue and earnings guidance. Meg Whitman, President and CEO, attributed eBay's continued growth to its thriving community of buyers and sellers.
Sprint Nextel reported its second quarter 2007 results. Key highlights include:
- Total subscribers increased nearly 400,000 to 54 million, with post-paid net additions of 16,000.
- Higher post-paid ARPU and cost reductions drove a strong sequential improvement in profitability. Adjusted OIBDA increased 12% sequentially.
- Continued strength in wireless data and IP services revenues, which grew 40% and 37% year-over-year respectively.
The document discusses FirstBank Puerto Rico's (FBP) annual shareholder's meeting on April 27, 2010. It summarizes the challenging economic environment in Puerto Rico, the US Virgin Islands, and Florida in 2009. It also discusses FBP's financial results for 2009, including a net loss which was the first negative year in half a decade. Reducing non-performing assets is identified as the number one priority. Plans for capital raising and strengthening the balance sheet are outlined.
Google reported strong financial results for the third quarter of 2010, with revenues of $7.29 billion, up 23% from the previous year. Revenue growth was driven by increases in paid clicks and cost-per-click on Google sites and its AdSense network. Google's CEO said the company's core business and newer areas like display and mobile grew well. Operating income increased from the prior year both before and after excluding stock-based compensation expenses, though expenses also rose with growth in headcount and capital expenditures.
Google announced its financial results for the first quarter of 2009. While revenues were down slightly from the previous quarter, they grew 6% over the first quarter of 2008. Operating income was $1.88 billion, or 34% of revenues. Net income was $1.42 billion, with earnings per share of $4.49. The company continued to see strong growth in paid clicks and remains focused on long-term investments.
NCR announced its first-quarter 2009 results, reporting a loss from continuing operations of $15 million compared to income of $49 million in the first quarter of 2008. Revenue declined 15% to $1.01 billion due to a difficult global economic environment. Cash from operating activities was $38 million. NCR updated its full-year 2009 guidance, now expecting revenues to decline 10-15% and non-pension operating income to be between $310-350 million, reflecting a $60 million investment in expanding its entertainment solutions portfolio.
The document provides a financial summary of the third quarter of 2006 compared to the third quarter of 2005. Key points include:
- Worldwide revenues decreased 10% to $3.2 billion due to declines in volumes and prices across several strategic product groups.
- Gross profit decreased 5% to $874 million but the gross profit margin increased 1.4 percentage points to 27.3% due to manufacturing cost reductions and positive price/mix impacts.
- Loss from continuing operations decreased from $915 million to $37 million, driven by improvements in gross profit margin and reductions in spending, partially offset by higher interest expenses.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
eBay reported record financial results for Q2 2003, with net revenues of $509.3 million (up 91% year-over-year). Earnings per share were $0.33 (GAAP) and $0.37 (pro forma). The company also announced plans for a 2-for-1 stock split and raised its full-year 2003 revenue and earnings guidance. Meg Whitman, President and CEO, attributed eBay's continued growth to its thriving community of buyers and sellers.
Sprint Nextel reported its second quarter 2007 results. Key highlights include:
- Total subscribers increased nearly 400,000 to 54 million, with post-paid net additions of 16,000.
- Higher post-paid ARPU and cost reductions drove a strong sequential improvement in profitability. Adjusted OIBDA increased 12% sequentially.
- Continued strength in wireless data and IP services revenues, which grew 40% and 37% year-over-year respectively.
The document discusses FirstBank Puerto Rico's (FBP) annual shareholder's meeting on April 27, 2010. It summarizes the challenging economic environment in Puerto Rico, the US Virgin Islands, and Florida in 2009. It also discusses FBP's financial results for 2009, including a net loss which was the first negative year in half a decade. Reducing non-performing assets is identified as the number one priority. Plans for capital raising and strengthening the balance sheet are outlined.
- Yahoo reported financial results for Q3 2008 with total revenues of $1.786 billion, operating income of $70 million, and operating income before depreciation and amortization of $410 million.
- Revenues increased 1% year-over-year while operating income decreased 53% due to costs associated with strategic initiatives and a tougher revenue climate.
- Yahoo began implementing cost reduction initiatives to reduce annual costs by over $400 million, including reducing headcount by at least 10%, to enhance profitability.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
Computer Sciences Corporation reported a 22.7% increase in earnings per share for the third quarter of fiscal year 1999 compared to the previous year. Net income increased 25.9% while revenues rose 15.9%. Growth was driven by strong performance in European operations, consulting, financial services, and lower interest costs. For the first nine months of the fiscal year, net income increased 24.5% while revenues were up 16.9% year-over-year.
- In the second quarter of fiscal year 2009, AmerisourceBergen reported record diluted EPS of $0.95, a 17% increase over the previous year. Revenue was $17.3 billion, down 2.5% due to one less business day.
- For the full fiscal year 2009, the company increased guidance for diluted EPS to $3.18-$3.30, a 10-14% increase over 2008, due to lower expected shares outstanding and interest expenses.
- In the first six months of fiscal 2009, diluted EPS was $1.67, up 14% over the previous year, while revenue was $34.7 billion, down 1.1%.
Marriott International Reports Second Quarter Resultsfinance20
Marriott International reported second quarter 2008 results. Worldwide revenue per available room (REVPAR) rose 5.6% driven by strong international growth. North American REVPAR increased 1.4%. Net income was $153 million compared to $175 million last year. Marriott added over 9,000 rooms in the quarter and has over 130,000 rooms in its development pipeline. For full year 2008, Marriott expects REVPAR to be flat to up 2% worldwide and for North American REVPAR to be up 1% or down 1%.
- Extreme Networks reported 12% product revenue growth in North America and EMEA in Q4 2010, with product revenue increasing 17% in North America and 22% in EMEA.
- For the full 2010 fiscal year, net revenue was $309 million compared to $336 million the prior year, with non-GAAP net income of $11.7 million versus $8.9 million in 2009.
- For Q1 2011, the company expects revenue of $81-84 million and non-GAAP net income of $0.04-0.06 per share.
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013Sergey Polovnikov
This supplemental commentary provides additional financial information for NetApp's Q4 FY2013 earnings results. Key highlights include:
- Net revenue increased 1% year-over-year to $1.71 billion.
- Non-GAAP net income was $253 million, or $0.69 per share, compared to $252 million in the same quarter last year.
- For Q1 FY2014, NetApp expects revenue between $1.475-$1.575 billion and non-GAAP earnings per share of $0.45-$0.50.
1) Net sales for the company decreased 8% to $2.119 billion in Q1 2007 compared to $2.292 billion in Q1 2006 due to declines in volumes and unfavorable price/mix, partially offset by foreign exchange gains.
2) Digital product sales decreased 3% to $1.210 billion while traditional product sales decreased 13% to $896 million.
3) Gross profit decreased 9% to $429 million in Q1 2007 due to unfavorable price/mix and volume declines, partially offset by cost reductions and foreign exchange gains.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
Embraer released its first quarter 2010 results according to US GAAP standards. Key highlights included:
- Jet deliveries totaled 41 aircraft, including 21 commercial jets.
- Backlog remained strong at $16 billion, over 3 times annual revenue.
- Net sales were $990 million with gross margin improved to 21.7% from 18.2% in Q1 2009.
- EBIT and EBITDA margins were 5.8% and 8.1% respectively, in line with guidance.
- Net income was $35.3 million compared to a $23.4 million loss in Q1 2009.
This document provides an overview and financial highlights of TRC Companies Inc.'s performance in the first quarter of fiscal year 2016. Some key points:
- Net service revenue increased 8% year-over-year to $100.2 million, with growth across all segments.
- Operating income increased 28% to $7.7 million and EBITDA increased 20% to $9.9 million.
- Net income increased 29% to $4.5 million and backlog increased 23% to $319 million.
- The environmental segment saw 11% revenue growth, while the energy and infrastructure segments grew revenues by 5% and 9% respectively.
- Segment profits increased in energy and
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
- eBay reported record financial results for Q2 2002, with net revenues of $266.3 million, up 47% year-over-year. Net income was a record $54.3 million, up 121% year-over-year.
- Online transaction revenues grew 66% year-over-year to a record $235.3 million, driven by 48% growth in the US and 152% growth internationally.
- For Q3 2002, eBay expects net revenues of $278-281 million and pro forma EPS of approximately $0.19. For the full year 2002, eBay expects net revenues of approximately $1.1 billion and pro forma EPS of $0.76-0.78.
- Wipro Limited reported financial results for the quarter and fiscal year ended March 31, 2009.
- For the fiscal year, total revenue was $5 billion, a 29% increase year-over-year. Net income was $677 million, a 7% increase.
- For the quarter, total revenue was $1.29 billion, a 17% increase year-over-year. Net income was $178 million, a 4% increase.
- The Walt Disney Company reported earnings for the fourth quarter and fiscal year 2005, with diluted EPS of $1.24 for the year and $0.20 for the quarter.
- Revenues increased 4% to $31.9 billion for the fiscal year and 3% to $7.7 billion for the fourth quarter. Segment operating income increased 4% to $4.7 billion for the fiscal year but decreased 15% to $760 million for the fourth quarter.
- Robert Iger, President and CEO, said the company's strategy of achieving growth through creative content, global expansion, and new technology is working, and Disney is well positioned to take advantage of changes in the media landscape.
The document discusses the OECD's proposals under Pillars 1 and 2 of the BEPS 2.0 project. Pillar 1 aims to establish a new nexus rule and profit allocation framework to address tax challenges from the digitalization of the economy. It proposes allocating additional taxing rights to market jurisdictions based on factors like user participation and marketing intangibles. Pillar 2 introduces the Global anti-Base Erosion proposal consisting of an income inclusion rule and undertaxed payments rule to ensure a minimum level of taxation. It seeks to limit profit shifting, but countries have concerns around its economic and political impacts as well as challenges reaching consensus by the 2020 deadline.
Lkq corporations first quarter 2018 earnings call presentation v2 4.27.18corporationlkq
- The company reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services.
- Net income from continuing operations attributable to stockholders was $153 million for Q1 2018, up 8.6% from $141 million in Q1 2017.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from $290 million in Q1 2017, with margins of 10.9% compared to 12.4% in Q1 2017.
Rexnord Corporation (RXN) Q3 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 30, 2019, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in ourfilingswiththeSecuritiesandExchangeCommission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliationstoGAAPdata.
To view this presentation - or any of our previously published financial quarter presentations - please visit https://investors.rexnordcorporation.com/events-and-presentations/presentations/default.aspx
eBay reported record financial results for Q2 2005, with net revenues of $1.086 billion, up 40% year-over-year. Earnings per share were $0.21, exceeding guidance. Strong momentum in the US and Germany along with growth at PayPal contributed to the results. eBay raised full-year 2005 guidance for net revenues to between $4.34-4.41 billion and earnings per share to between $0.77-0.78.
The document appears to be a legal case filing from October 13, 2009. It includes the case number, filing date and 21 pages of legal documents. However, without more context around the specific claims, parties or issues in the case, it is difficult to provide a concise high-level summary in 3 sentences or less.
The document describes a system that takes a simple freehand sketch with text labels as input and automatically generates a photorealistic composition by searching online images and seamlessly stitching them together. Key aspects of the system include stringent filtering of less suitable images returned from searches using criteria like content consistency, clarity of background, and consistency with user-drawn contours. It also includes a novel image blending algorithm to allow seamless composition of images with differences in lighting or texture. The system is able to generate multiple candidate compositions ranked by estimated quality to provide options for the user.
- Yahoo reported financial results for Q3 2008 with total revenues of $1.786 billion, operating income of $70 million, and operating income before depreciation and amortization of $410 million.
- Revenues increased 1% year-over-year while operating income decreased 53% due to costs associated with strategic initiatives and a tougher revenue climate.
- Yahoo began implementing cost reduction initiatives to reduce annual costs by over $400 million, including reducing headcount by at least 10%, to enhance profitability.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
Computer Sciences Corporation reported a 22.7% increase in earnings per share for the third quarter of fiscal year 1999 compared to the previous year. Net income increased 25.9% while revenues rose 15.9%. Growth was driven by strong performance in European operations, consulting, financial services, and lower interest costs. For the first nine months of the fiscal year, net income increased 24.5% while revenues were up 16.9% year-over-year.
- In the second quarter of fiscal year 2009, AmerisourceBergen reported record diluted EPS of $0.95, a 17% increase over the previous year. Revenue was $17.3 billion, down 2.5% due to one less business day.
- For the full fiscal year 2009, the company increased guidance for diluted EPS to $3.18-$3.30, a 10-14% increase over 2008, due to lower expected shares outstanding and interest expenses.
- In the first six months of fiscal 2009, diluted EPS was $1.67, up 14% over the previous year, while revenue was $34.7 billion, down 1.1%.
Marriott International Reports Second Quarter Resultsfinance20
Marriott International reported second quarter 2008 results. Worldwide revenue per available room (REVPAR) rose 5.6% driven by strong international growth. North American REVPAR increased 1.4%. Net income was $153 million compared to $175 million last year. Marriott added over 9,000 rooms in the quarter and has over 130,000 rooms in its development pipeline. For full year 2008, Marriott expects REVPAR to be flat to up 2% worldwide and for North American REVPAR to be up 1% or down 1%.
- Extreme Networks reported 12% product revenue growth in North America and EMEA in Q4 2010, with product revenue increasing 17% in North America and 22% in EMEA.
- For the full 2010 fiscal year, net revenue was $309 million compared to $336 million the prior year, with non-GAAP net income of $11.7 million versus $8.9 million in 2009.
- For Q1 2011, the company expects revenue of $81-84 million and non-GAAP net income of $0.04-0.06 per share.
NETAPP ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2013Sergey Polovnikov
This supplemental commentary provides additional financial information for NetApp's Q4 FY2013 earnings results. Key highlights include:
- Net revenue increased 1% year-over-year to $1.71 billion.
- Non-GAAP net income was $253 million, or $0.69 per share, compared to $252 million in the same quarter last year.
- For Q1 FY2014, NetApp expects revenue between $1.475-$1.575 billion and non-GAAP earnings per share of $0.45-$0.50.
1) Net sales for the company decreased 8% to $2.119 billion in Q1 2007 compared to $2.292 billion in Q1 2006 due to declines in volumes and unfavorable price/mix, partially offset by foreign exchange gains.
2) Digital product sales decreased 3% to $1.210 billion while traditional product sales decreased 13% to $896 million.
3) Gross profit decreased 9% to $429 million in Q1 2007 due to unfavorable price/mix and volume declines, partially offset by cost reductions and foreign exchange gains.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
Embraer released its first quarter 2010 results according to US GAAP standards. Key highlights included:
- Jet deliveries totaled 41 aircraft, including 21 commercial jets.
- Backlog remained strong at $16 billion, over 3 times annual revenue.
- Net sales were $990 million with gross margin improved to 21.7% from 18.2% in Q1 2009.
- EBIT and EBITDA margins were 5.8% and 8.1% respectively, in line with guidance.
- Net income was $35.3 million compared to a $23.4 million loss in Q1 2009.
This document provides an overview and financial highlights of TRC Companies Inc.'s performance in the first quarter of fiscal year 2016. Some key points:
- Net service revenue increased 8% year-over-year to $100.2 million, with growth across all segments.
- Operating income increased 28% to $7.7 million and EBITDA increased 20% to $9.9 million.
- Net income increased 29% to $4.5 million and backlog increased 23% to $319 million.
- The environmental segment saw 11% revenue growth, while the energy and infrastructure segments grew revenues by 5% and 9% respectively.
- Segment profits increased in energy and
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
- eBay reported record financial results for Q2 2002, with net revenues of $266.3 million, up 47% year-over-year. Net income was a record $54.3 million, up 121% year-over-year.
- Online transaction revenues grew 66% year-over-year to a record $235.3 million, driven by 48% growth in the US and 152% growth internationally.
- For Q3 2002, eBay expects net revenues of $278-281 million and pro forma EPS of approximately $0.19. For the full year 2002, eBay expects net revenues of approximately $1.1 billion and pro forma EPS of $0.76-0.78.
- Wipro Limited reported financial results for the quarter and fiscal year ended March 31, 2009.
- For the fiscal year, total revenue was $5 billion, a 29% increase year-over-year. Net income was $677 million, a 7% increase.
- For the quarter, total revenue was $1.29 billion, a 17% increase year-over-year. Net income was $178 million, a 4% increase.
- The Walt Disney Company reported earnings for the fourth quarter and fiscal year 2005, with diluted EPS of $1.24 for the year and $0.20 for the quarter.
- Revenues increased 4% to $31.9 billion for the fiscal year and 3% to $7.7 billion for the fourth quarter. Segment operating income increased 4% to $4.7 billion for the fiscal year but decreased 15% to $760 million for the fourth quarter.
- Robert Iger, President and CEO, said the company's strategy of achieving growth through creative content, global expansion, and new technology is working, and Disney is well positioned to take advantage of changes in the media landscape.
The document discusses the OECD's proposals under Pillars 1 and 2 of the BEPS 2.0 project. Pillar 1 aims to establish a new nexus rule and profit allocation framework to address tax challenges from the digitalization of the economy. It proposes allocating additional taxing rights to market jurisdictions based on factors like user participation and marketing intangibles. Pillar 2 introduces the Global anti-Base Erosion proposal consisting of an income inclusion rule and undertaxed payments rule to ensure a minimum level of taxation. It seeks to limit profit shifting, but countries have concerns around its economic and political impacts as well as challenges reaching consensus by the 2020 deadline.
Lkq corporations first quarter 2018 earnings call presentation v2 4.27.18corporationlkq
- The company reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services.
- Net income from continuing operations attributable to stockholders was $153 million for Q1 2018, up 8.6% from $141 million in Q1 2017.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from $290 million in Q1 2017, with margins of 10.9% compared to 12.4% in Q1 2017.
Rexnord Corporation (RXN) Q3 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 30, 2019, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in ourfilingswiththeSecuritiesandExchangeCommission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliationstoGAAPdata.
To view this presentation - or any of our previously published financial quarter presentations - please visit https://investors.rexnordcorporation.com/events-and-presentations/presentations/default.aspx
eBay reported record financial results for Q2 2005, with net revenues of $1.086 billion, up 40% year-over-year. Earnings per share were $0.21, exceeding guidance. Strong momentum in the US and Germany along with growth at PayPal contributed to the results. eBay raised full-year 2005 guidance for net revenues to between $4.34-4.41 billion and earnings per share to between $0.77-0.78.
The document appears to be a legal case filing from October 13, 2009. It includes the case number, filing date and 21 pages of legal documents. However, without more context around the specific claims, parties or issues in the case, it is difficult to provide a concise high-level summary in 3 sentences or less.
The document describes a system that takes a simple freehand sketch with text labels as input and automatically generates a photorealistic composition by searching online images and seamlessly stitching them together. Key aspects of the system include stringent filtering of less suitable images returned from searches using criteria like content consistency, clarity of background, and consistency with user-drawn contours. It also includes a novel image blending algorithm to allow seamless composition of images with differences in lighting or texture. The system is able to generate multiple candidate compositions ranked by estimated quality to provide options for the user.
This document summarizes web application security trends from Q1-Q2 2009. Some key findings include:
- 78% of reported vulnerabilities affected web technologies like browsers, servers, and applications.
- SQL injection and cross-site scripting vulnerabilities dominated commercial web applications.
- The top 10 vulnerabilities included issues with phpMyAdmin, SAP, Sun Java, Citrix, Apache Tomcat, and Symantec products.
- Assessments by Cenzic found information leaks, cross-site scripting, authentication flaws, and session management issues to be most common.
Yahoo!s Method and apparatus for search ranking using human input and automat...diTii
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document outlines Docs.com's integration with Facebook Pages, allowing users to author documents as a Facebook Page, share documents to a Page, and manage documents owned by Pages. Key features include seamless switching between authoring as yourself or as a Page, equal shared ownership of Page documents among admins, Newsfeed integration and a docs tab on Facebook Pages. Setup involves granting Docs.com access to Facebook Pages and adding a "Docs" tab to Pages. Feedback is welcomed on GetSatisfaction.
The document describes a system that can take a simple freehand sketch with text labels as input and automatically generate a photorealistic composition by searching online images and seamlessly combining them. The key aspects are stringent filtering of less suitable images found online and a novel image blending algorithm to allow high quality composition. Experimental results showed the method was very successful at generating photorealistic compositions from simple sketches.
The document appears to be a presentation by S. Asha, an assistant professor from Sri Krishna Arts & Science College in Coimbatore, India. She discusses identifying the brand Adidas and how to pronounce its name. The presentation contains 35 slides but provides no other context or summaries of the content.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document outlines a logistics model for responding to customer service needs. It involves establishing discussions with customers to understand their needs, determining if the firm can meet those needs through delivery scheduling and pricing, committing to the customer, monitoring delivery, and counseling partners to facilitate the service response through intermediaries like agents, retailers, and electronic channels.
BizTalk Server 2009 is an integration and business process management platform that allows organizations to connect disparate applications and define automated multi-step business processes. It provides core technologies like adapters for integration, orchestrations for process logic, and a rules engine. BizTalk Server 2009 addresses application integration within and between organizations, supports standards like EDI, and provides visibility into processes through business activity monitoring. It aims to help organizations improve business processes by solving problems around connecting diverse systems and implementing end-to-end business logic.
This document outlines a logistics model for responding to customer service needs. It involves establishing discussions with customers to understand their needs, determining if the firm can meet those needs through delivery scheduling and pricing, committing to the customer, monitoring the delivery process, and using intermediaries like agents and retailers. The process focuses on listening to customers, educating them on options, and delivering services after evaluating the firm's ability to schedule capacity and set an appropriate price.
The Main menu allows you to configure system date and time, system security, and system
configuration.
Main Advanced Boot Exit
Date (mm:dd:yy) : 01/01/2009
Time (hh:mm:ss) : 12:00:00
System Date/Time Configuration
System Date (mm/dd/yyyy) : [01/01/2009]
System Time (HH:MM:SS) : [12:00:00]
Security Settings
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User Password Is Not Set
System Configuration
Quiet Boot: [Disabled]
F1 Help Select Item -/+ Change Values
Grand strategy is a 12-step process for developing a comprehensive business strategy that includes performance management and measurement. It involves analyzing internal strengths and weaknesses, external opportunities and threats, and determining strategic focus areas. Key steps include developing a mission statement, creating goals and key performance measures across organizational perspectives, and using a scorecard to track progress and drive the strategy through execution and adjustment.
The document summarizes Sonoco's 2009 second quarter financial results. Key points:
- Net sales declined 21% year-over-year due to lower volumes, especially in industrial markets impacted by recession.
- Base earnings were $0.41 per share compared to $0.62 per share last year, with higher pension costs partially offsetting improvements from cost reductions.
- The Consumer Packaging segment saw a 6% sales decline but a 20% increase in operating profits due to price increases and productivity gains.
BlackBerry reported financial results for the fourth quarter and fiscal year 2013. For Q4, revenue was $2.7 billion with income of $94 million. For fiscal 2013, revenue declined 40% to $11.1 billion with a net loss of $628 million. BlackBerry shipped 6 million smartphones in Q4 including 1 million BlackBerry 10 devices and expects to approach breakeven results in Q1 2014 with increased marketing investment for the BlackBerry 10 launch. Mike Lazaridis will retire from BlackBerry's board effective May 1, 2013.
Yahoo reported financial results for the second quarter of 2009. Revenues declined 13% year-over-year to $1.573 billion, exceeding the midpoint of guidance. Non-GAAP net income was $229 million, up 2% year-over-year. The CEO stated that Yahoo is focused on creating innovative products to increase user engagement and offer a compelling advertising proposition. For Q3 2009, Yahoo expects revenues of $1.45-1.55 billion and non-GAAP operating income of $330-370 million.
CFO Message in NTN Report 2020 (English Version)TETSUYA SOGO
This document provides an overview of NTN Corporation's financial results for the fiscal year ending March 31, 2020 and its plans going forward. Key points include:
- Net sales were 651.5 billion yen, below expectations due to COVID-19, with an operating income of 7.1 billion yen. An impairment loss of 29 billion yen was recorded.
- Issues going forward include further reducing fixed and variable costs, improving technology to reduce price competition, and securing sufficient cash.
- For fiscal year ending 2024, the goal is net sales of 700 billion yen and operating income of 42 billion yen, with a focus on improving ROIC through selection and concentration of businesses and structural
Bank of America may be international leader in wealth management, company and investment banking and commerce across a broad vary of plus categories, serving companies, governments, establishments and people round the world.
This document brings together a set of latest data points and publicly available information relevant for Agile & AI Operations Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
- Kodak's net sales decreased 7% in Q2 2007 compared to Q2 2006, primarily due to declines in volumes and prices across many business units. However, gross profits increased 14% due to cost reductions.
- Digital revenues increased 3% led by enterprise solutions, while traditional revenues declined 17% due to declines in film capture and retail printing.
- Consumer Digital Imaging Group sales declined 10% due to volume and price declines, but gross profits increased 23% due to cost reductions.
- Film Products Group sales declined 15% due to declines in consumer film capture, but gross profits declined only slightly.
This document brings together a set
of latest data points and publicly
available information relevant for
Agile & AI Operations Industry. We
are very excited to share this content
and believe that readers will benefit
from this periodic publication
immensely.
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
Builders FirstSource reported financial results for the first quarter of 2009, with sales down 37% from the previous year due to a 51.7% decline in housing starts. The company reported a net loss of $30.6 million compared to a $15.8 million net loss in the previous year. While sales declined significantly due to housing market conditions, the company was able to reduce operating expenses by 28.6% and ended the quarter with $102.6 million in cash and $83.5 million available for operations. Looking ahead, company executives expect challenging market conditions to continue through 2009 but believe ongoing cost containment efforts and cash reserves will provide adequate liquidity.
In the Q2 2023 results document:
1) TIM Group reported results fully in line with FY guidance, with H1 service revenues and EBITDA supporting FY targets. Domestic operations showed steady improvement with revenues back to growth and EBITDA stabilized.
2) TIM Entities delivered strong results, with TIM Consumer showing a recovery in mobile KPIs and stabilized fixed business. TIM Enterprise reported positive revenue growth and a strong sales pipeline. NetCo saw continued fiber rollout and revenue growth.
3) TIM Brasil over-delivered on growth targets thanks to mobile performance and Oi integration synergies, with improving margins and a robust cash position.
- TIM Group reported Q2 2023 results fully in line with FY guidance, with H1 service revenues and EBITDA supporting FY targets.
- Domestic operations showed steady improvement, with revenues back to growth and EBITDA stabilized. Positive drivers in H2 are expected to support guidance achievement.
- TIM entities delivered results with growth in key KPIs. The transformation plan achieved ~€0.2bn additional savings in Q2 towards the €0.8bn incremental target for 2023.
- The delayering plan remains on track, with a binding offer for NetCo expected by September 30th.
- Illinois Tool Works reported a loss of 6 cents per share in the first quarter of 2009 compared to earnings of 70 cents per share in the first quarter of 2008. Revenues declined 24% due to weak global end markets.
- The company recorded $90 million in impairment charges and $28 million in tax charges in the quarter. Excluding these charges, earnings would have been 17 cents per share.
- Cash flow from operations remained strong at $447 million in the quarter, driven by reductions in working capital. The company expects revenues to increase 5-11% in the second quarter and forecasts earnings of 25-37 cents per share.
TIM - Financial information at March 31, 2019Gruppo TIM
- TIM Group reported financial results for Q1 2019, showing evidence that new management's focus on cost reduction and process redesign is improving cash generation. Net debt decreased by €190M and operating free cash flow increased by €541M compared to Q1 2018.
- Group revenues were €4.5B, down 2.9% YoY. Service revenues were €4.1B, down 3.0% YoY mainly due to Sparkle closing low-margin contracts. Excluding this impact, service revenues declined 2.0% at Group level and 2.7% for the Domestic business unit.
- Organic EBITDA was €1.8B, down 2.1
In Q2 2019:
- Net debt was reduced by €349M from the previous quarter to €24.7B total, through strong cash generation.
- Equity free cash flow trebled year-over-year in the first half of 2019 to €786M.
- EBITDA declined 2.6% year-over-year due to a 4.4% drop in the Domestic segment, but grew 6.3% in Brazil.
- Mobile revenues declined 8.7% year-over-year due to lower handset sales, while fixed service revenues grew 2.2% excluding Sparkle.
JPMorgan Chase reported first quarter 2010 net income of $3.3 billion, up from $2.1 billion in the first quarter of 2009. The Investment Bank generated strong results driven by fixed income markets revenue. Retail Financial Services reported a net loss due to high credit costs, though Retail Banking saw higher profits. While credit costs remained elevated, the firm saw signs of stabilization and improvement in some consumer credit portfolios.
JPMorgan Chase reported first quarter 2010 net income of $3.3 billion, up from $2.1 billion in the first quarter of 2009. The Investment Bank generated strong results driven by fixed income markets revenue. Retail Financial Services reported a net loss due to high credit costs, though Retail Banking saw higher profits. While credit costs remained elevated, the firm saw signs of stabilization and improvement in some consumer credit portfolios.
China Interactive Education 2010 Q3 Earning Releasesierrallc
China Interactive Education reported financial results for the third quarter of 2010, with revenues increasing 117% over the previous quarter to $11.6 million due to strong demand for their new interactive classroom solutions and electronic learning products. However, net income decreased 27% to $2.2 million due to higher costs associated with the new product lines and increased marketing expenses to promote the new brand. For the nine month period, revenues increased 120% to $26.5 million while net income decreased 45% to $3.3 million due to the factors affecting the third quarter results as well as increased selling and administrative expenses. The company updated their 2010 guidance to project full year revenues between $52-54 million and net income between $8.
- Yahoo reported first quarter 2009 results, with revenues of $1.58 billion, a 13% decrease from the first quarter of 2008. However, operating cash flow of $409 million exceeded expectations.
- Net income was $118 million compared to $537 million in the first quarter of 2008. However, the prior year results benefited from a large non-cash gain.
- Yahoo expects to reduce its workforce by 5% to allow for strategic investments, while also implementing other cost reductions. The company expects second quarter revenues between $1.43-1.63 billion.
The Blackstone Group reported financial results for Q2 2010 with increases in key metrics compared to Q2 2009. Economic Net Income rose 28% to $205 million, driven by higher investment income and fees. Fee-earning assets under management grew 8% to $101.4 billion. While performance fees declined, base management fees and restructuring advisory work increased revenues. Blackstone declared a $0.10 quarterly distribution per unit.
Similar to Google Second Quarter 2010 Financial Results (20)
The document provides information about using the Microsoft iSCSI Software Target, including usage scenarios, download details, unpacking instructions, and file listings. It describes how the software target allows setting up test and development environments for Hyper-V and SQL Server cluster using iSCSI shared storage on a single laptop. It also explains that the download file is an ISO that contains an EXE to unpack two inner ISO files for the iSCSI target and Windows Storage Server, and instructions for installing just the iSCSI target.
This document discusses a court case challenging the constitutionality of Proposition 8, a California ballot initiative that banned same-sex marriage. It summarizes the background of Proposition 8, procedural history of the case, plaintiffs' arguments against it, and testimony presented at trial. The court then makes determinations about the credibility of witnesses, findings of fact, and conclusions of law. Ultimately, the court finds Proposition 8 to be unconstitutional and issues an injunction against its enforcement.
Windows Azure Platform Business Model: Know about Windows Azure Platform pric...diTii
This document discusses Microsoft's Windows Azure Platform business model and its transition to a services-based model. Key points include:
- Microsoft is aligning its business more closely with customers' needs to control costs, drive innovation, and increase productivity.
- The Windows Azure Platform allows purchasing based on consumption rather than large upfront licensing fees, reducing complexity and costs.
- Case studies show the Windows Azure Platform can significantly reduce a company's 3-year total cost of ownership compared to traditional infrastructure.
- Microsoft provides automated management of the Windows Azure Platform and services, reducing costs and complexity for customers.
Creative Canvas: A guide to Google media solutionsdiTii
Google provides various media solutions and tools to help advertisers plan and execute creative campaigns. This document highlights Google Ad Planner, Google Insights for Search, DoubleClick Rich Media, Google AdWords, the Google Content Network, Google Mobile Ads, Google TV Ads, YouTube advertising products, and tools to extend reach like Blogger, Google App Engine, Google Checkout, Google Earth, and Google Friend Connect. It provides overviews of each tool and how advertisers can use them to conduct research, place media, extend reach, and measure results.
This document summarizes web application security trends from Q1-Q2 2009. Some key findings include:
- 78% of reported vulnerabilities affected web technologies like browsers, servers, and applications.
- SQL injection and cross-site scripting vulnerabilities dominated commercial web applications.
- The top 10 vulnerabilities included issues with phpMyAdmin, SAP, Sun Java, Citrix, Apache Tomcat, and Symantec products.
- Assessments by Cenzic found information leaks, cross-site scripting, authentication flaws, and session management issues to be most common.
Web Application Security Trends Report by Cenzic diTii
This document summarizes a report on web application security trends in the first half of 2009. It finds that the total number of reported vulnerabilities increased by over 10% compared to 2008, with web vulnerabilities continuing to dominate at 78% of the total. The most common web application vulnerabilities exploited in attacks were SQL injection and cross-site scripting. Based on assessments, 9 out of 10 applications had issues related to information leaks, cross-site scripting, authentication, and session management. While more companies are now testing applications for vulnerabilities, widespread securing of the millions of web applications has not yet occurred. Hackers are becoming more organized and well-funded, so all organizations need to take web application security more seriously to avoid the significant costs
Server Core Remote Management by Sander Berkouwer & Joachim NässlanderdiTii
This document provides guidance on remotely managing Server Core installations of Windows Server 2008 using various methods such as the Microsoft Management Console, Remote Server Administration Tools, Remote Desktop Protocol, Windows Remote Management, and Secure Shell. It discusses the advantages and best uses of each method and includes configuration steps for setting up remote management on the Server Core server and client sides.
Eolas Technologies Incorporated filed a patent infringement lawsuit against Adobe Systems Inc., Amazon.com Inc., Apple Inc., and 21 other companies in the United States District Court for the Eastern District of Texas. The complaint alleges that the defendants have directly and indirectly infringed two patents held by Eolas - U.S. Patent Nos. 5,838,906 and 7,599,985 - related to interactive embedded applications on websites. Eolas seeks damages and injunctive relief prohibiting further infringement of the patents.
The document introduces the various editions of Windows 7 - Starter, Home Basic, Home Premium, Professional, Enterprise, and Ultimate. It provides brief descriptions of the key features included in each edition. The editions range from the entry-level Starter edition for PCs with limited hardware to the full-featured Enterprise/Ultimate editions. The Home Premium edition provides an enhanced entertainment experience while the Professional edition adds business and productivity features on top of Home Premium.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
1. GOOGLE ANNOUNCES SECOND QUARTER 2010 RESULTS
MOUNTAIN VIEW, Calif. – July 15, 2010 - Google Inc. (NASDAQ: GOOG) today announced
financial results for the quarter ended June 30, 2010.
“Google had a strong second quarter,” said Eric Schmidt, CEO of Google. “Solid growth in our
core business and very strong growth in our emerging businesses drove 24% revenue growth
year over year. We saw strength in every major product area, as more and more traditional brand
advertisers embraced search advertising and as large advertisers increasingly ran integrated
campaigns across search, display, and mobile. We feel confident about our future, and plan to
continue to invest aggressively in our core areas of strategic focus.”
Q2 Financial Summary
Google reported revenues of $6.82 billion for the quarter ended June 30, 2010, an increase of
24% compared to the second quarter of 2009. Google reports its revenues, consistent with
GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the second quarter
of 2010, TAC totaled $1.73 billion, or 26% 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 in the accompanying financial tables.
GAAP operating income in the second quarter of 2010 was $2.37 billion, or 35% of
revenues. This compares to GAAP operating income of $1.87 billion, or 34% of
revenues, in the second quarter of 2009. Non-GAAP operating income in the second
quarter of 2010 was $2.67 billion, or 39% of revenues. This compares to non-GAAP
operating income of $2.17 billion, or 39% of revenues, in the second quarter of 2009.
GAAP net income in the second quarter of 2010 was $1.84 billion, compared to $1.48
billion in the second quarter of 2009. Non-GAAP net income in the second quarter of
2010 was $2.08 billion, compared to $1.71 billion in the second quarter of 2009.
GAAP EPS in the second quarter of 2010 was $5.71 on 322 million diluted shares
outstanding, compared to $4.66 in the second quarter of 2009 on 319 million diluted
shares outstanding. Non-GAAP EPS in the second quarter of 2010 was $6.45, compared
to $5.36 in the second quarter of 2009.
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 second quarter of
2010, the charge related to SBC was $309 million, compared to $293 million in the
second quarter of 2009. The tax benefit related to SBC was $70 million in the second
quarter of 2010 and $70 million in the second quarter of 2009. Reconciliations of non-
GAAP measures to GAAP operating income, operating margin, net income, and EPS are
included at the end of this release.
1
2. Q2 Financial Highlights
Revenues – Google reported revenues of $6.82 billion in the second quarter of 2010,
representing a 24% increase over second quarter 2009 revenues of $5.52 billion. Google reports
its revenues, consistent with GAAP, on a gross basis without deducting TAC.
Google Sites Revenues - Google-owned sites generated revenues of $4.50 billion, or 66% of
total revenues, in the second quarter of 2010. This represents a 23% increase over second
quarter 2009 revenues of $3.65 billion.
Google Network Revenues - Google’s partner sites generated revenues, through AdSense
programs, of $2.06 billion, or 30% of total revenues, in the second quarter of 2010. This
represents a 23% increase from second quarter 2009 network revenues of $1.68 billion.
International Revenues - Revenues from outside of the United States totaled $3.53 billion,
representing 52% of total revenues in the second quarter of 2010, compared to 53% in the first
quarter of 2010 and 53% in the second quarter of 2009. Excluding gains related to our foreign
exchange risk management program, had foreign exchange rates remained constant from the first
quarter of 2010 through the second quarter of 2010, our revenues in the second quarter of 2010
would have been $176 million higher. Excluding gains related to our foreign exchange risk
management program, had foreign exchange rates remained constant from the second quarter of
2009 through the second quarter of 2010, our revenues in the second quarter of 2010 would have
been $24 million lower.
Revenues from the United Kingdom totaled $770 million, representing 11% of revenues
in the second quarter of 2010, compared to 13% in the second quarter of 2009.
In the second quarter of 2010, we recognized a benefit of $79 million to revenues through
our foreign exchange risk management program, compared to $124 million in the second
quarter of 2009.
Paid Clicks – Aggregate paid clicks, which include clicks related to ads served on Google sites
and the sites of our AdSense partners, increased approximately 15% over the second quarter of
2009 and decreased approximately 3% over the first quarter of 2010.
Cost-Per-Click – Average cost-per-click, which includes clicks related to ads served on Google
sites and the sites of our AdSense partners, increased approximately 4% over the second quarter
of 2009 and increased approximately 2% over the first quarter of 2010.
TAC - Traffic Acquisition Costs, the portion of revenues shared with Google’s partners,
increased to $1.73 billion in the second quarter of 2010, compared to TAC of $1.45 billion in the
second quarter of 2009. TAC as a percentage of advertising revenues was 26% in the second
quarter of 2010, compared to 27% in the second quarter of 2009.
The majority of TAC is related to amounts ultimately paid to our AdSense partners, which
2
3. totaled $1.46 billion in the second quarter of 2010. TAC also includes amounts ultimately paid
to certain distribution partners and others who direct traffic to our website, which totaled $269
million in the second quarter of 2010.
Other Cost of Revenues - Other cost of revenues, which is comprised primarily of data center
operational expenses, amortization of intangible assets, content acquisition costs as well as credit
card processing charges, increased to $735 million, or 11% of revenues, in the second quarter of
2010, compared to $655 million, or 12% of revenues, in the second quarter of 2009.
Operating Expenses - Operating expenses, other than cost of revenues, were $1.99 billion in the
second quarter of 2010, or 29% of revenues, compared to $1.54 billion in the second quarter of
2009, or 28% of revenues.
Stock-Based Compensation (SBC) – In the second quarter of 2010, the total charge related to
SBC was $309 million, compared to $293 million in the second quarter of 2009.
We currently estimate SBC charges for grants to employees prior to July 1, 2010 to be
approximately $1.2 billion for 2010. This estimate does not include expenses to be recognized
related to employee stock awards that are granted after June 30, 2010 or non-employee stock
awards that have been or may be granted.
Operating Income - GAAP operating income in the second quarter of 2010 was $2.37 billion,
or 35% of revenues. This compares to GAAP operating income of $1.87 billion, or 34% of
revenues, in the second quarter of 2009. Non-GAAP operating income in the second quarter of
2010 was $2.67 billion, or 39% of revenues. This compares to non-GAAP operating income of
$2.17 billion, or 39% of revenues, in the second quarter of 2009.
Interest and Other Income (Expense), Net – Interest and other income (expense), net increased
to an income of $69 million in the second quarter of 2010, compared to an expense of $18
million in the second quarter of 2009.
Income Taxes – Our effective tax rate was 24% for the second quarter of 2010.
Net Income – GAAP net income in the second quarter of 2010 was $1.84 billion, compared to
$1.48 billion in the second quarter of 2009. Non-GAAP net income was $2.08 billion in the
second quarter of 2010, compared to $1.71 billion in the second quarter of 2009. GAAP EPS in
the second quarter of 2010 was $5.71 on 322 million diluted shares outstanding, compared to
$4.66 in the second quarter of 2009 on 319 million diluted shares outstanding. Non-GAAP EPS
in the second quarter of 2010 was $6.45, compared to $5.36 in the second quarter of 2009.
Cash Flow and Capital Expenditures – Net cash provided by operating activities in the second
quarter of 2010 totaled $2.09 billion, compared to $1.61 billion in the second quarter of 2009. In
the second quarter of 2010, capital expenditures were $476 million, the majority of which was
related to IT infrastructure investments, including data centers, servers, and networking
equipment. Free cash flow, an alternative non-GAAP measure of liquidity, is defined as net cash
provided by operating activities less capital expenditures. In the second quarter of 2010, free
3
4. cash flow was $1.61 billion.
We expect to continue to make significant capital expenditures.
A reconciliation of free cash flow to net cash provided by operating activities, the GAAP
measure of liquidity, is included at the end of this release.
Cash – As of June 30, 2010, cash, cash equivalents, and short-term marketable securities were
$30.1 billion compared to $26.5 billion at March 31, 2010.
The increase in our cash, cash equivalents, and short-term marketable securities balance included
cash collateral of $2.9 billion that we received in connection with our securities lending program,
partially offset by $1.1 billion of tax payments and $704 million of shares repurchased related to
the AdMob acquisition.
In addition, our Board of Directors has authorized debt financings of up to $3 billion through the
issuance of commercial paper. In conjunction with this program, we established a $3 billion
revolving credit facility. Net proceeds from the commercial paper program will be used for
general corporate purposes. No amounts under either program were outstanding as of June 30,
2010.
Headcount – On a worldwide basis, Google employed 21,805 full-time employees as of June
30, 2010, up from 20,621 full-time employees as of March 31, 2010.
WEBCAST AND CONFERENCE CALL INFORMATION
A live audio webcast of Google’s second quarter 2010 earnings release call will be available
at http://investor.google.com/webcast.html. The call begins today at 1:30 PM (PT) / 4:30 PM
(ET). This press release, the financial tables, as well as other supplemental information
including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP
measures, are also available on that site.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and
uncertainties. These statements include statements regarding our continued investments in our
core areas of strategic focus, our expected stock-based compensation charges, and our plans to
make significant capital expenditures. Actual results may differ materially from the results
predicted, and reported results should not be considered as an indication of future performance.
The potential risks and uncertainties that could cause actual results to differ from the results
predicted include, among others, unforeseen changes in our hiring patterns and our need to
expend capital to accommodate the growth of the business, as well as those risks and
uncertainties included under the captions “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K
for the year ended December 31, 2009, which is on file with the SEC and is available on our
investor relations website at investor.google.com and on the SEC website at www.sec.gov.
4
5. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2010, which we expect to file with the SEC in July 2010. All information
provided in this release and in the attachments is as of July 15, 2010, and Google undertakes no
duty to update this information.
ABOUT NON-GAAP FINANCIAL MEASURES
To supplement our consolidated financial statements, which statements are prepared and
presented in accordance with GAAP, we use the following non-GAAP financial measures: non-
GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-GAAP
EPS, and free cash flow. The presentation of this financial information is not intended to be
considered in isolation or as a substitute for, or superior to, the financial information prepared
and presented in accordance with GAAP. For more information on these non-GAAP financial
measures, please see the tables captioned "Reconciliations of non-GAAP results of operations
measures to the nearest comparable GAAP measures" and "Reconciliation from net cash
provided by operating activities to free cash flow" included at the end of this release.
We use these non-GAAP financial measures for financial and operational decision making and
as a means to evaluate period-to-period comparisons. Our management believes that these non-
GAAP financial measures provide meaningful supplemental information regarding our
performance and liquidity by excluding certain expenses and expenditures that may not be
indicative of our "recurring core business operating results," meaning our operating performance
excluding not only non-cash charges, such as stock-based compensation, but also discrete cash
charges that are infrequent in nature. We believe that both management and investors benefit
from referring to these non-GAAP financial measures in assessing our performance and when
planning, forecasting, and analyzing future periods. These non-GAAP financial measures also
facilitate management's internal comparisons to our historical performance and liquidity as well
as comparisons to our competitors' operating results. We believe these non-GAAP financial
measures are useful to investors both because (1) they allow for greater transparency with respect
to key metrics used by management in its financial and operational decision making and (2) they
are used by our institutional investors and the analyst community to help them analyze the health
of our business.
Non-GAAP operating income and operating margin. We define non-GAAP operating income as
operating income plus stock-based compensation. Non-GAAP operating margin is defined as
non-GAAP operating income divided by revenues. Google considers these non-GAAP financial
measures to be useful metrics for management and investors because they exclude the effect of
stock-based compensation and one-time events so that Google's management and investors can
compare Google's recurring core business operating results over multiple periods. Because of
varying available valuation methodologies, subjective assumptions and the variety of award
types that companies can use under FASB ASC Topic 718, Google's management believes that
providing a non-GAAP financial measure that excludes stock-based compensation allows
investors to make meaningful comparisons between Google's recurring core business operating
results and those of other companies, as well as providing Google's management with an
important tool for financial and operational decision making and for evaluating Google's own
recurring core business operating results over different periods of time. There are a number of
5
6. limitations related to the use of non-GAAP operating income versus operating income calculated
in accordance with GAAP. First, non-GAAP operating income excludes some costs, namely,
stock-based compensation, that are recurring. Stock-based compensation has been and will
continue to be for the foreseeable future a significant recurring expense in Google's business.
Second, stock-based compensation is an important part of our employees' compensation and
impacts their performance. Third, the components of the costs that we exclude in our calculation
of non-GAAP operating income may differ from the components that our peer companies
exclude when they report their results of operations. Management compensates for these
limitations by providing specific information regarding the GAAP amounts excluded from non-
GAAP operating income and evaluating non-GAAP operating income together with operating
income calculated in accordance with GAAP.
Non-GAAP net income and EPS. We define non-GAAP net income as net income plus stock-
based compensation less the related tax effects. We define non-GAAP EPS as non-GAAP net
income divided by the weighted average outstanding shares, on a fully-diluted basis. We
consider these non-GAAP financial measures to be a useful metric for management and investors
for the same reasons that Google uses non-GAAP operating income and non-GAAP operating
margin. However, in order to provide a complete picture of our recurring core business operating
results, we exclude from non-GAAP net income and non-GAAP EPS the tax effects associated
with stock-based compensation. Without excluding these tax effects, investors would only see
the gross effect that excluding these expenses had on our operating results. The same limitations
described above regarding Google's use of non-GAAP operating income and non-GAAP
operating margin apply to our use of non-GAAP net income and non-GAAP EPS. Management
compensates for these limitations by providing specific information regarding the GAAP
amounts excluded from non-GAAP net income and non-GAAP EPS and evaluating non-GAAP
net income and non-GAAP EPS together with net income and EPS calculated in accordance with
GAAP.
Free cash flow. We define free cash flow as net cash provided by operating activities minus
capital expenditures. We consider free cash flow to be a liquidity measure that provides useful
information to management and investors about the amount of cash generated by the business
that, after the acquisition of property and equipment, including information technology
infrastructure and land and buildings, can be used for strategic opportunities, including investing
in our business, making strategic acquisitions, and strengthening the balance sheet. Analysis of
free cash flow also facilitates management's comparisons of our operating results to competitors'
operating results. A limitation of using free cash flow versus the GAAP measure of net cash
provided by operating activities as a means for evaluating Google is that free cash flow does not
represent the total increase or decrease in the cash balance from operations for the period
because it excludes cash used for capital expenditures during the period. Our management
compensates for this limitation by providing information about our capital expenditures on the
face of the cash flow statement and under the caption “Management's Discussion and Analysis of
Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q and
Annual Report on Form 10-K. Google has computed free cash flow using the same consistent
method from quarter to quarter and year to year.
6
7. The accompanying tables have more details on the GAAP financial measures that are most
directly comparable to non-GAAP financial measures and the related reconciliations between
these financial measures.
Investor Contact:
Jane Penner
650-214-1624
jcpenner@google.com
7
8. Google Inc.
CONSOLIDATED BALANCE SHEETS
(In millions)
As of As of
December 31, June 30,
2009* 2010
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 10,198 $ 10,713
Marketable securities 14,287 19,346
Accounts receivable, net of allowance 3,178 3,308
Deferred income taxes, net 644 66
Income taxes receivable, net 23 309
Prepaid revenue share, expenses and other assets 837 1,419
Total current assets 29,167 35,161
Prepaid revenue share, expenses and other assets, non-current 415 452
Deferred income taxes, net, non-current 263 443
Non-marketable equity securities 129 377
Property and equipment, net 4,845 4,920
Intangible assets, net 775 904
Goodwill 4,903 5,788
Total assets $ 40,497 $ 48,045
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 216 $ 397
Accrued compensation and benefits 982 748
Accrued expenses and other current liabilities 570 3,623
Accrued revenue share 694 677
Deferred revenue 285 302
Total current liabilities 2,747 5,747
Deferred revenue, non-current 42 31
Income taxes payable, net, non-current 1,392 1,318
Other long-term liabilities 312 336
Stockholders' equity:
Common stock and additional paid-in capital 15,817 17,109
Accumulated other comprehensive income 105 346
Retained earnings 20,082 23,158
Total stockholders' equity 36,004 40,613
Total liabilities and stockholders' equity $ 40,497 $ 48,045
* Derived from audited financial statements.
9. Google Inc.
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except share amounts which are reflected in thousands and per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
2009 2010 2009 2010
(unaudited)
Revenues $ 5,523 $ 6,820 $ 11,032 $ 13,595
Costs and expenses:
Cost of revenues (including stock-based compensation
expense of $14, $8, $26, $14) 2,108 2,467 4,209 4,919
Research and development (including stock-based
compensation expense of $182, $202, $352, $393) 708 898 1,349 1,716
Sales and marketing (including stock-based compensation
expense of $57, $56, $116, $110) 469 629 903 1,236
General and administrative (including stock-based
compensation expense of $40, $43, $77, $83) 364 461 814 871
Total costs and expenses 3,649 4,455 7,275 8,742
Income from operations 1,874 2,365 3,757 4,853
Interest and other income (expense), net (18) 69 (11) 87
Income before income taxes 1,856 2,434 3,746 4,940
Provision for income taxes 371 594 839 1,145
Net income $ 1,485 $ 1,840 $ 2,907 $ 3,795
Net income per share - basic $ 4.70 $ 5.78 $ 9.21 $ 11.93
Net income per share - diluted $ 4.66 $ 5.71 $ 9.15 $ 11.77
Shares used in per share calculation - basic 315,901 318,350 315,576 318,123
Shares used in per share calculation - diluted 318,536 322,486 317,878 322,547
10. Google Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Three Months Ended Six Months Ended
June 30, June 30,
2009 2010 2009 2010
(unaudited)
Operating activities
Net income $ 1,485 $ 1,840 $ 2,907 $ 3,795
Adjustments:
Depreciation and amortization of property and equipment 311 266 632 530
Amortization of intangible and other assets 66 76 148 143
Stock-based compensation expense 293 309 571 600
Excess tax benefits from stock-based award activities (4) (19) (36) (31)
Deferred income taxes (101) 9 (114) (4)
Other (2) - (23) 2
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable (139) (243) (42) (197)
Income taxes, net (389) (545) (64) (164)
Prepaid revenue share, expenses and other assets 10 (34) 88 (191)
Accounts payable 20 79 42 199
Accrued expenses and other liabilities 41 319 (281) (75)
Accrued revenue share 15 11 19 34
Deferred revenue 3 17 12 28
Net cash provided by operating activities 1,609 2,085 3,859 4,669
Investing activities
Purchases of property and equipment (139) (476) (402) (715)
Purchases of marketable securities (5,391) (12,934) (10,636) (25,421)
Maturities and sales of marketable securities 5,325 11,135 10,435 20,630
Investments in non-marketable equity securities (9) (227) (28) (230)
Cash collateral received from securities lending - 2,870 - 2,870
Acquisitions, net of cash acquired, and purchases of intangible
and other assets (3) (229) (5) (419)
Net cash provided by (used in) investing activities (217) 139 (636) (3,285)
Financing activities
Net proceeds related to stock-based award activities 47 39 10 1
Excess tax benefits from stock-based award activities 4 19 36 31
Repurchase of common stock in connection with acquisitions - (704) - (801)
Net cash provided by (used in) financing activities 51 (646) 46 (769)
Effect of exchange rate changes on cash and cash equivalents 42 (57) (15) (100)
Net increase in cash and cash equivalents 1,485 1,521 3,254 515
Cash and cash equivalents at beginning of period 10,426 9,192 8,657 10,198
Cash and cash equivalents at end of period $ 11,911 $ 10,713 $ 11,911 $ 10,713
11. Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures
The following table presents certain non-GAAP results before certain material items (in millions, except share amounts which are reflected in thousands and per share amounts, unaudited):
Three Months Ended June 30, 2009 Three Months Ended June 30, 2010
Non-GAAP Non-GAAP
Operating Non-GAAP Operating Operating Non-GAAP Operating
GAAP Margin (a) Adjustments Results Margin (b) GAAP Margin (a) Adjustments Results Margin (b)
$ 293 (c) $ 309 (d)
Income from operations $ 1,874 33.9% $ 293 $ 2,167 39.2% $ 2,365 34.7% $ 309 $ 2,674 39.2%
$ 293 (c) $ 309 (d)
(70) (e) (70) (e)
Net income $ 1,485 $ 223 $ 1,708 $ 1,840 $ 239 $ 2,079
Net income per share - diluted $ 4.66 $ 5.36 $ 5.71 $ 6.45
Shares used in per share calculation - diluted 318,536 318,536 322,486 322,486
(a) Operating margin is defined as income from operations divided by revenues.
(b) Non-GAAP operating margin is defined as non-GAAP income from operations divided by revenues.
(c) To eliminate $293 million of stock-based compensation expense recorded in the second quarter of 2009.
(d) To eliminate $309 million of stock-based compensation expense recorded in the second quarter of 2010.
stock based
(e) To eliminate income tax effects related to expenses noted in (c) and (d).
12. Reconciliation from net cash provided by operating activities to free cash flow (in millions, unaudited):
Three Months Ended
June 30, 2010
Net cash provided by operating activities $ 2,085
Less purchases of property and equipment (476)
Free cash flow $ 1,609
Net cash provided by investing activities* $ 139
Net cash used in financing activities $ (646)
*includes purchases of property and equipment.
13. The following table presents our revenues by revenue source (in millions, unaudited):
Three Months Ended Six Months Ended
June 30, June 30,
2009 2010 2009 2010
Advertising revenues:
Google web sites $ 3,653 $ 4,499 $ 7,345 $ 8,938
Google Network web sites 1,684 2,063 3,322 4,099
Total advertising revenues 5,337 6,562 10,667 13,037
Other revenues 186 258 365 558
Revenues $ 5,523 $ 6,820 $ 11,032 $ 13,595
The following table presents our revenues, by revenue source, as a percentage of total revenues (unaudited):
Three Months Ended Six Months Ended
June 30, June 30,
2009 2010 2009 2010
Advertising revenues:
Google web sites 66% 66% 67% 66%
Google Network web sites 31% 30% 30% 30%
Total advertising revenues 97% 96% 97% 96%
Other revenues 3% 4% 3% 4%
Revenues 100% 100% 100% 100%