Google Pleases Analysts With Q4 $50 Billion In Revenue
Michael Harper for redOrbit.com — Your Universe Online
Google had their Q4 earnings call last evening and by the numbers, the search giant and Android maker finished 2012 on a strong note. The company beat analysts´ expectations, reporting $14.42 billion in revenue for 4Q12. This 14 billion represents a 36% increase over the same quarter last year and also pushes Google just past the $50 billion mark, the first time they´ve been able to do so.
“We ended 2012 with a strong quarter,” said Larry Page, CEO of Google in a press statement.
“Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year — not a bad achievement in just a decade and a half. In today´s multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It´s an incredibly exciting time to be at Google.”
Once losses and restructuring costs were figured in, Google says they were able to walk away with $3.57 billion in income last quarter, up slightly from last year´s $3.11 billion. When looked at through the lens of generally accepted accounting principles (or GAAP), Google has reported an income of $2.89 billion. During the fourth quarter last year, the search giant raked in $2.71 billion according to GAAP.
The stock market was happy to hear such news, as shares of GOOG rose by 3% (or $27) in after-hours trading, according to CNET.
CEO Page also took some time to mention his company´s affairs with their Motorola Mobility branch. The sale of Motorola Mobility to Google became official in 2012 and Google quickly cleaned house, laying off 4,000 employees. It had been widely accepted that Google had mostly purchased this branch to beef up their patent offerings as they head into patent litigation with Microsoft and anyone else who may engage them (Apple).
Page was excited to talk about the future of Motorola and upcoming products, however.
In the future, Google´s Motorola could release a phone with a battery that the user won´t have to remember to charge and an even tougher exterior.
“I am excited about the business. In today´s multi screen world, the opportunities are endless,” said Page, mentioning the multi screen world once more.
“Think about your device. Battery life is a huge issue. You shouldn´t have to worry about constantly recharging your phone. When you drop your phone, it shouldn´t go splat. Everything should be a ton faster and easier. There´s real potential to invent new and better experiences.”
In addition to mentioning the multi screen world several times, Page also spent plenty of time discussing the differences between answers and links in search. Page says he wants his company to focus more on delivering the actual answer rather than send people to the right place to find the answer. Part of this plan could include a vacation planning app which already knows the user´s food preferences, the weather forecast, airline and hotel prices and other pertinent bits of information to draw out an entire trip for the user. According to Page, their strong mapping and travel data could be key in delivering answers in the future.
“Google has an aspiration to do that for any area, not just travel, and we are working with as many companies as we can to organize the world’s information,” Page said.