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| Google profits back on track as annual revenue hits record | Google profits back on track as annual revenue hits record |
| (35 minutes later) | |
| Google has reported a rise in profits with a jump in revenues, as it ploughed more money into advertising and research and development. | |
| Net income for the final three months of last year was $2.89bn (£1.83bn), up 7% on a year earlier. Revenues were up by more than a third at $14.4bn. | Net income for the final three months of last year was $2.89bn (£1.83bn), up 7% on a year earlier. Revenues were up by more than a third at $14.4bn. |
| Revenues for the whole of 2012 reached a record $50.2bn. | |
| Google shares rose by almost 5% in after-hours trading, following the better-than-expected results. | |
| In the third quarter of 2012, Google's profits fell sharply from a year earlier. | In the third quarter of 2012, Google's profits fell sharply from a year earlier. |
| "We ended 2012 with a strong quarter," said the internet giant's chief executive Larry Page. | "We ended 2012 with a strong quarter," said the internet giant's chief executive Larry Page. |
| "And we hit $50bn in revenues for the first time last year - not a bad achievement in just a decade and a half. | "And we hit $50bn 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." | "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." |
| The fourth quarter figures are not directly comparable with a year earlier, as they include Motorola Mobility, which Google bought in May 2012. The subsidiary made a loss in the latest three month period. | |
| Analysts were impressed by Google's performance. | |
| "Business looked really strong, especially from a profitability perspective - they really grew their margins in the core business, which is quite amazing," said Sameet Sinha from B Riley. | |
| "Most of that strength seems to be coming from international markets, which grew revenues quite substantially - up 23%, year-over-year." |