I'd like to thank all Googlers around the world who helped make this a terrific quarter.
I'll now hand over back to Patrick.
Patrick Pichette - SVP and CFO: Thank you, Nikesh. So, we'll work with Jamie to go straight to the Q&A. Jamie?
Transcript Call Date 04/16/2014
Operator: Mark Mahaney, RBC Capital Markets.
Mark Mahaney - RBC Capital Markets: Two questions. On the U.K. revenue growth at 11% number and on the partner websites at 4%, is there anything you had want to call out as being unusual drags on those growth rates? I think that U.K. is the lowest we've seen and maybe that's just large numbers and really successful execution in that market, but anything you'd want to call out for either of those two revenue streams?
Patrick Pichette - SVP and CFO: As I said, let me start with the U.K. The U.K. – look, a combination of partner mix this quarter as well as, again, year-over-year matters a lot, and we happen to have a year ago a real revenue-favorable weather. I think people kind of tend to forget it, but last year we had a very strong Q1 for the U.K. The combination of these two things just kind of year-over-year made the comparison a little tighter for this quarter. As it relates to websites – partner websites, I covered that a bit earlier, and we're – I mean, again, you go back to last year where network – if you think of Ad Exchange and AdMob continues to be very, very strong. And you will remember, again, last year that we started the DLA policy change in Q1 or maybe it was in Q4. But the impact of the DLA actually takes time to flow through. We said that it would take multi quarters. So, this has not kind of flowed over completely. So what you have again there is very strong on the course where we want sort of the Ad Exchange and the AdMob, but on the flip side of that, right, you still have the tails of the DLA change policy that's from a year ago, but the effects have not fully flown through. So even in the coming quarters you should see a bit of an effect there, but overall, pretty pleased with actually these results, Mark.
Operator: Carlos Kirjner, Bernstein.
Carlos Kirjner - Sanford Bernstein: I have two questions. First, in the last eight quarters headcount has grown significantly slower than revenue, but this quarter you had, I think, 2,300 people in the core, and headcount grew with revenues. Was this change in hiring rate mostly because of acquisitions and more generally, what prevents you from hiring 2,300 people a quarter or even more as the business grows? Secondly, Patrick, in the spirit of giving more transparency to shareholders, can you give us some color on what has driven such a sustained increase on CapEx over the last four quarters? Because I don't – I think clearly it's not just some lumpy behavior. Are you buying data center sites in advance of demand and if this is the case, can we infer that CapEx will revert to historical levels?
Patrick Pichette - SVP and CFO: So, to the headcount question, I think you've basically nailed that intuitively, which is the acquisition of Nest – the acquisitions this quarter had a quite a bit of people impact on this number, or kind of if you think of our organic numbers have actually not changed in any material way. So, it just happened, you buy Nest and it comes with a lot of people. We also had, you'll remember, the acquisition of Deep Mind and the few others. So, for us, we had the double-hitter of having the opportunity to continue to attract people on an organic basis through our processes and these few acquisitions kind of moved the needle quite a bit for us this quarter. As it relates to CapEx, listen, you're right, that we – and I've mentioned this in the last couple of quarters, where we have – and just a reminder to everybody, right, if you think of the CapEx categories, right, data centers first and data center construction, then production equipment, then all other facilities is kind of like the hierarchy of needs. In the case of data center construction, we have found that the option value of having more capacity on standby and available to us to grow versus not having it is actually a real strategic issue for the Company. In that sense, if for whatever reason, we had a spike in demand that was really pronounced and sustained for a couple of quarters and we did not have the capacity, it would be a real issue strategically for us relative to the quite low cost of having the infrastructure in place. So that's why we're really pushing ahead of the curve, and so it's with this view of long-term. So, from that perspective, you're also right that, that's the mindset we're applying. And we've always said that CapEx was lumpy, so you have a good manifestation of it right now right here. So thank you for those two questions Carlos.
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