Google’s Q4 Revenue Jumps 36 Percent
Google eked out slightly higher earnings in the fourth quarter, despite a financial drag caused by the Internet search leader’s expansion into device manufacturing and a decline in digital ad prices as more people gaze into the smaller screens of smartphones.
The results announced Tuesday pleased investors, helping to lift Google’s stock by nearly 5 percent in extended trading. The performance lifted Google’s stock by $34.14, or 4.9 percent, to $737.01 in Tuesday’s extended trading.
The company earned $2.89 billion in profit on revenue of $14.42 billion, a staggering number that was up 36% over the previous year and 8% from the prior quarter.
Motorola Mobile, the newly-acquired handset division, earned $1.51 billion in revenue but lost $353 million overall. In comparison to last quarter, Motorola Mobility lost less money but earned significantly less revenue, so we’re hoping that Google stops the bleeding somehow. A Motorola X Phone may help the situation immensely.
2012 was the company’s first $50 billion year, which is pretty incredible, and Google now has 37,544 employees, though it’s set to lose 5204 as it sells Motorola’s Home division in the coming months. The company’s market cap is roughly $231 billion based on the last share price, though it should spike on the good news.