Google reported that its profit climbed and its annual
revenue hit an unprecedented high last year as it evolved
to stay in tune with people using smartphones and tablets.
"We ended 2012 with a strong quarter," said Google
co-founder and chief executive Larry Page. "We hit $50
billion in revenues for the first time last year; not a
bad achievement in just a decade and a half."
The fourth quarter profit was up 6.7 percent from a year
earlier at $2.89 billion, and for the full year Google's
earnings grew 10 percent to $10.74 billion.
Revenue in the quarter that ended December 31 was up 36
percent from the same period a year earlier at $14.4
billion. For the year, revenues grew to $50.2 billion.
In a conference call with financial analysts, Google
executives stressed how the company is connecting with
people on smartphones and tablets, and cautioned that it
would take time to get freshly acquired Motorola Mobility
Page said he was excited about progress Google has made in
handling search queries spoken to mobile devices and
described the online Play shop for music, books,
applications and other digital content as "on fire."
Google's mapping service program tailored for Apple
gadgets running on the iOS platform have been a hit, Page
said, adding that its search and email programs are also
popular on Apple devices.
Google has been selling unwanted Motorola Mobility assets
since it completed its $12.5 billion takeover of the
company last year.
Chief financial officer Patrick Pichette said during the
earnings call that the Internet giant has "12 to 18 months
of product pipeline it is still working through" at
In December, Google announced it was selling the Motorola
Mobility Home unit to ARRIS in a cash and stock deal
valued at $2.35 billion.
Google also saw success with experiments tying real-world
shopping to smartphones, according to executives.