A first peek at Google s Q4 earnings report : Revenue in line and a nice earnings bump. The search giant reported revenue of $4.95 billion and earnings of $6.79 per share. The Street was looking for revenue of $4.9 billion and $6.50 in earnings per share, per Yahoo (YHOO) (I ve also seen lower consensus numbers for EPS, in the $6.45-$6.48 range).

The profit hike for Q4 2009 was roughly five times that of the same quarter one year ago, when Google tallied $382 million on earnings of $1.21. Excluding stock-based compensation, Google garnered an EPS of $6.79 on sales of $4.95 billion. Wall Street analysts had expected Google to report sales of $4.9 billion on EPS of $6.50.

I’m trying to figure out what that means.