Thursday, December 26, 2024

Profit before tax at Google Ireland rises 79% to €3.57bn

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Google’s main Irish subsidiary recorded a profit before tax last year of €3.57bn, up 79% on the previous year.

The growth in profit at Google Ireland Ltd was off the back of expanding turnover, which rose by €4.7bn to €77.3bn.

A €5bn dividend was paid to the company’s parent in the period, up from €42.1m a year earlier.

But the latest accounts for the year to the end of December last show that after the end of the accounting period a further interim dividend of €4.5bn was paid.

Cost of sales at the tech giant increased by €600m to €16.6bn while administration expenses climbed by €2.4bn to €57.1bn.

The company paid tax of €587.34m, or 16% of its profit before tax, leaving it with a profit after tax of €2.98bn.

Average headcount was 5,310, up from 4,832 the previous year.

Including wages and salaries, social welfare costs, share based payments and pension expenses, average cost per employee came in at €207,705.

Directors’ remuneration doubled to €2.6m during the year.

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