Google has announced its earnings for Q4 2006 and demonstrates that it is still growing at a rapid rate.

Revenues of $3.21 billion for the quarter ended December 31st 2006 represent a 67% increase over Q4 2005 revenues ($1.92 billion) and a 19% increase over Q3 2006 revenues ($2.69 billion).

Interestingly, Google’s stock (GOOG) dropped about 3% as soon as Google announced the results. Whilst any other business would be very happy with such a financial performance, Wall Street was clearly expecting more.

To read more, visit this superb Google results summary from Danny Sullivan.