Apple can have its missing iPhones. Let Yahoo worry about a softening economy. Google just reported its business grew 51 percent in the last year. Expect Larry, Sergey and Eric to gloat even though revenues after traffic acquisition costs missed expectations. Stick with us for live coverage of Google's fourth-quarter 2007 earnings call.
1:31, It's just you, me, and a symphonic orchestra so far. Beats Yahoo's smooth jazz, that's for sure. For detailed numbers go here.
1:34, Schmidt, Reyes, Page, Brin, Rosenberg, Kordestani are on the call. Here are their pictures and bios.
1:37, Schmidt: "We're very very please. Strong financial performance across the board. In both growth and profitability. I want to call out international growth. It's still very nascent." But that didn't stop us, now did it?
1:38, Reyes lists the numbers. For detailed numbers go here.
1:45, Page tells us he's hear to talk about search. Did you know that Google launched universal search in all languages? Behind the scenes improvements to improve quality. Should be an improvement.
1:48, Brins turn. "I want to talk to you about ne
2:09, Another question about monetizing social networking.
2:09, Reyes. We're still learning about monetizing social networks. "Any idea who's replacing you." Maybe. Schmidt: Ha ha. He's hard to replace.
2:10, How's Healthcare looking? Schmidt: No new products. For social networks, which monetizes better text or video ads. Sergey: Dunno. Big opportunity here.
2:17, How are AdSense partners going? Minimum guarantees seemed to have hurt you.
2:17, Reyes answers. Sometimes we make big bets to better understand the site we're partnering with. We're confident that our innovation model will allow us to catch up with wealthy promises we make to partners.
2:18, Are your future investments going to effect the bottom line more in the future?
2:19, Schmidt: We invest where we see opportunity.
2:20, Explain why we more deceleration in AdWords as opposed to AdSense. Larry, is licensing revenue up due to the Postini acquisition?
2:20, Reyes: We already explained that. "I'm not sure we can offer you any more color."
2:21, Page: It's not financial, but we've got great partnerships with the social networks. We launched Open Social. Even though Q4 was a disappointment in terms of revenues, Q3 and Q2 were really good. Schmidt: Remember the Google model is to experiment. We try new things. Try. And Try. And Try.
2:24, We have not seen any impact from RUMORS of future recessions, Schmidt says.
2:24, Brin says that Google is the place to be in a recession anyway. For the best ROI, duh.
2:25, Schmidt. There's reason to optimistic. The DoubleClick merger. Hello. Remember that?
2:26, How's the local advertising business?
2:27, We have a new plus box where you get a local advertisers phone number and a map all in the ad.
2:28. Last question. The 889 new staff, where are they? Why did the TAC rate go up?
2:29, Six months ago, we hired ahead of ourselves. Now we're fine. 50/50 technical and non-technical. We're going more international. It's very difficult to get a job working for us. That's going to continue.
2:30, The TAC rate going up has to do with our AdSense partner sites and having to make guaranteed payments.