At a time when Google is stepping up its interest in both long-form video distribution and social networking the company has announced full year revenues up 29%.

“Our Q4 revenue blew past the $10 billion mark for the first time,” said Larry Page, CEO of Google, adding: “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. By building a meaningful relationship with our users through Google+ we will create amazing experiences across our services. I”m very excited about what we can do in 2012 – there are tremendous opportunities.”

In terms of Q4 financial highlights, Google reported revenues of $10.58 billion, a 25% increase over Q4 2010 revenues of $8.44 billion. Google-owned sites generated revenues of $7.29 billion, or 69% of total revenues, during the period in question. This represents a 29% increase over fourth quarter 2010 revenues of $5.67 billion. Meanwhile, Google”s partner sites generated revenues of $2.88 billion, or 27% of total revenues. This represents a 15% increase on 2010.

Revenues from outside of the US were $5.60 billion, (53% of the total compared to 52% in Q4 2010). Revenues from the UK were $1.06 billion (10%).