Google reported $14.4bn (£9bn) in revenues for the fourth quarter of 2012 as the company announced its first ever $50bn year. The revenues comfortably beat analysts' expectations and were 36% higher than the same quarter last year but the firm also provided fresh evidence of how the shift to mobile is hitting the value of online advertising.
"We ended 2012 with a strong quarter," said Larry Page, Google's co-founder and CEO. "Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50bn in revenues for the first time – not a bad achievement in just a decade and a half."
Google hits first $50 billion a year
Posted on Wednesday, January 23 2013 @ 12:06 CET by Thomas De Maesschalck