American publicly traded companies have to file a large number of documents so that shareholders can make decisions about the value of the stock.
As Google is now such a company we can begin to see some of the inner financial workings of the company. Worth a read for tech and business journalists.
Google has just filed its 2005 Annual Report with the Securities and Exchange Commission (SEC).
It makes for some interesting reading.
For example where they lease office space (Bangalore, Beijing, Belo Horizonte, Copenhagen, Dublin, Duesseldorf, Frankfurt, Hamburg, Hong Kong, Hyderabad, Istanbul, London, Madrid, Melbourne, Mexico City, Milan, Montreal, Mumbai, Munich, New York, Oslo, Paris, Rome, Sao Paolo, Seoul, Shanghai, Stockholm, Sydney, Tel-Aviv, Tokyo, Toronto, Trondheim, Warsaw and Zurich, to mention a few).
It is also interesting that revenues from the UK have dropped, something Google explains by the strengthening of the dollar
"Advertising spending in certain verticals (advertising segments) in the United Kingdom decreased from the three months ended September 30, 2005 to the three months ended December 31, 2005 due to seasonality." [page 49]
What seasonality means in this context is a little unsure to me. You would think that in the run-up to Christmas ad revenue would increase, not decrease.
On pages 10, 11 & 12 of the
report we can read about Google AdWords and AdSense, offering short but
highly detailed explanations of the many features and tools included in
the two paid-advertising packages. This is a must-read section for
anyone interested in AdWords or AdSense, including experienced search
marketers. To see all the features listed in one place is a good
reminder of how Google’s paid advertising machine works and why it
works so well.
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