Google has just announced its earnings for Q4 2011, reporting $10.58 billion in revenue — although that number doesn't include traffic acquisition costs. When you factor those in, actual net revenue was $8.13 billion. That amount is the first time Google passed the $10 billion mark in a single quarter and represents a 25 percent increase year on year. For the full year, Google's revenue is up 29 percent and the company is currently sitting on cash and cash-equivalent reserves of $44.6 billion. Digging deeper into the numbers, Google saw a 6 percent increase with net income of $2.71 billion. All Things D notes that the results were lower than Wall Street estimates. Google hired about 1,100 new workers during the quarter.

Although Google didn't break out whether its new social network, Google+, is making money specifically, the statement from CEO Larry Page that accompanied its press release was quick to cite the new property. "I am super excited about the growth of Android, Gmail, and Google+, which now has 90 million users globally – well over double what I announced just three months ago."

Google also announced the latest Android activation numbers and the number of Android devices sold to date.