![]() ![]() ![]() (For more on the founders' stakes in Google and their pay, click here).Įric Schmidt, the former CEO of Novell and chief technology officer at Sun Microsystems, joined Google as its chairman in March 2001 and was named CEO later that year. Google, founded in 1998 by former Stanford University students Sergey Brin and Larry Page, has quickly become one of the most successful Internet companies, thanks to search technology that many experts say is superior to offerings from rivals. Google's core business of selling search-based advertising, which allows companies to purchase ads tied to specific keyword searches, is one of the most lucrative and rapidly growing markets in the tech sector. Mark Mahaney, an Internet analyst with American Technology Research, said Google's numbers were incredibly strong, noting that its sales grew in the first quarter at a higher rate than Yahoo! ( YHOO: Research, Estimates) and eBay ( EBAY: Research, Estimates). (For more of the financial details revealed in the filing, click here.) Net income was $64 million, up 148 percent from the first quarter of 2003. Google also revealed that has been profitable since 2001.įor the first quarter of 2004, Google reported sales of $389.6 million, an increase of 118 percent from a year ago. ![]() ![]() Sales rose 177 percent from a year ago although earnings increased by just 6 percent. In the filing, Google said that it generated revenues of $961.9 million in 2003 and reported a net profit of $106.5 million. Wall Street has been eagerly anticipating a filing from Google so investors could finally get a glimpse into the company's finances. The company's IPO filing has been rumored for the better part of a year and recent speculation has created a buzz about Internet stocks not seen since online auctioneer eBay went public in September 1998. Morgan Stanley and Credit Suisse First Boston were named as the lead underwriters for the deal. The company said in a filing with the Securities and Exchange Commission that it expects to raise as much as $2.7 billion from the offering, which it will conduct in the unusual format of an online auction in a bid to make its shares more widely available. Google files for its IPO, the most highly anticipated stock sale in the era. 1 Internet search engine, finally filed for its initial public stock offering Thursday and promised to maintain its long-term focus even though it will soon face the intense scrutiny of Wall Street. All Rights Reserved.Popular search engine company files for its eagerly anticipated initial public offering.īy Paul R. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. While advertising continues to account for nearly all of Alphabet's sales, the company has found some traction this year in creating new moneymakers.Īlphabet posted nearly $15 billion in sales for the year from Google's "other revenues," which include cloud services and hardware products, like the Pixel phones and Google Home smart speakers.Īlphabet remains well behind Amazon's cloud business and Apple's hardware business. last year, according to research firm eMarketer, and that figure is only expected to keep growing. Google and Facebook gobbled up more than 60% of digital ad spending in the U.S. The milestone is a testament to the strength of Google's ad sales business, which continues to grow rapidly even as the company faces controversies over Russian-bought election ads and offensive videos on YouTube. Apple ( AAPL) hit it in 2011 and now can pull in nearly that amount in a single quarter. Related: Google plans to expand undersea cablesĪmazon ( AMZN) first hit $100 billion in annual sales in 2015. Hennessy replaces Eric Schmidt, the former Google CEO, who announced plans to step down as chairman in December. The company also announced that John Hennessy, a longtime member of the board, will take over as Alphabet's chairman. ![]()
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