Google announced financial results for the quarter and fiscal year ended December 31, 2007. Google reported revenues of $4.83 billion for the quarter ended December 31, 2007, an increase of 51% compared to the fourth quarter of 2006. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the fourth quarter of 2007, TAC totaled $1.44 billion, or 30% of advertising revenues.

GAAP net income for the fourth quarter of 2007 was $1.21 billion. Non-GAAP net income in the fourth quarter of 2007 was $1.41 billion.

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