Here is my Google earnings remarks I just gave and the quote from our press release:
"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.”
Good afternoon everyone--and happy New Year! Welcome to our first earnings call of 2012. It’s great to have you all here.
I’m very happy with our results. Google had a very strong quarter--with revenue up 25% year on year, 9% quarter on quarter. And we blew past the $10BN mark for the first time. Pretty exciting!
Looking back on 2011 I am most excited by the fact that we significantly improved our velocity and execution--my priority when I became CEO in April.
With Google+, we’ve shipped on average a new feature every day since we launched in June. That’s more than 200 updates in total, including:
-- A bunch of new hangout features … in fact David Beckham just did a great hangout with his fans here this morning;
-- Circles in Gmail; and
-- +Pages for businesses
I’m also pleased to announce that there are over 90M Google+ users-
well over double what I announced just a quarter ago on our earnings call. Engagement on + is also growing tremendously. I have some amazing data to share there for the first time: +users are very engaged with our products - over 60% of them engage daily, and over 80% weekly.
But as I said last quarter, Google+ is about much more than the individual features themselves. It’s also about building a meaningful relationship with users so that we can dramatically improve the services we offer. Understanding who people are, what they care about, and the other people that matter to them is crucial if we are to give users what they need, when they need it.
Take last week’s Search announcement, which I’m really excited about. We’ve now included personal results in Search, so you easily find information like photos and +posts that are super relevant to you--as well as the people you care about, or are interested in. You can even restrict to all personal results or easily view Google in “world” mode just as you would have before. I really like it, and I encourage all of you to try it out too.
Key to improved execution and velocity is focus. There are so many opportunities for Google today. But to make a real impact in the world we need to make hard choices about where to focus our efforts.
Since we last spoke, we’ve announced that we are closing 12 more products, including Buzz, Knol and Friend Connect, and integrating a whole bunch of others into features of existing products. This means we can double down on the really big bets we have made--like Android, Chrome, Gmail, Display and YouTube.
And I’m pleased to say that those big bets are really paying off. We’re seeing extraordinary velocity, the kind of velocity we could only dream about.
Android is quite simply mind boggling:
-- 700K phones are lit up every day-- and I’m pleased to announce 250M Android devices in total, up 50M since our last announcement just in November.
-- In just two days over the holiday weekend, 3.7M Androids were activated.
-- And today we’re announcing over 11BN downloads from Android Market. Wow!
Ice Cream Sandwich--which is a new Android release in October is by far our best build yet. And there are exciting new phones. I simply love my new Galaxy Nexus … it’s super fast, great for photos, and has an amazing 720p screen.
Chrome is on fire too. It’s a wonderful example of the kind of beautifully simple, intuitive experience that really improves users’ lives. People thought we were crazy. Who wants another browser? Turns out a ton of people want to get onto the Web quickly and securely--and we’ve got an amazingly fast growing fan base around the world.
From the start, Gmail had security, accessibility--you can get all your email from anywhere, on any device--and insane storage made it a winner with consumers, business and education. From an internal beta project eight years ago, I’m proud to tell you today that Gmail now has more than 350M active users--and it’s growing rapidly!
As I have always said, our emerging high usage products can generate huge new businesses for Google in the long run, just like Search. And we have a ton of experience monetizing successful products over time.
Take Display--we’ve brought the science of Search to the art of Display, creating a business that our latest figures show has now reached an annualized run rate of over $5BN.
I have some exciting new numbers also for the DoubleClick Ad Exchange -- spending is up over 130% year on year, and the number of buyers and sellers have both more than doubled over the same period.
And I am very pleased with the advertising on YouTube. TrueView gives users much more choice over what they watch, and advertisers only pay when someone watches their ad.
And it’s not just in advertising that we’re doing well--Enterprise is doing great with over 5K new customers signing up every day. In fact last week we signed our biggest ever deal with about 110 thousand users at BBVA, one of the world’s leading banks.
All of our experience says that well run technology businesses with tremendous consumer usage make a lot of money over the long term.
All of this is made possible by the exceptional people that work here. I have always believed that you attract the best talent by working on things that matter in the world, and creating a great workplace environment. People want to feel part of a family even when they are at work.
So I am super pleased that Google topped Fortune’s 2012 ‘Best Companies to Work For’ list, which was published today. We’ve taken the No 1 slot three times now--more than any other company. I want to thank everyone at Google for all of their hard work that has made this possible.
Let me finish up by saying that 2012 promises to be a fantastic year. We’re still at the very, very early stages of what technology can do. By building a meaningful relationship with users we can start to offer them just what they need, exactly when they want it.
Everyone here at Google is super excited about our work today, and what the future holds. It’s great to be here--thank you for taking the time to join us today and I’ll now hand over to Patrick.