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Sunday 20 April 2014

Google's fourth quarter consolidated revenue tops Wall Street target

Google is selling its Motorola Mobility smartphone business to ambitious Chinese group Lenovo
Google has also announced the sale of its Motorola Mobility smartphone business to ambitious Chinese group Lenovo this week

Google's consolidated revenue beat Wall Street's target in the fourth quarter even as pricing for its online ads weakened during the holiday season.

Shares of Google, the world's No.1 Internet search engine, were essentially flat at $1136.94 in after hours trading on Thursday.

Google's consolidated revenue, which includes the money-losing Motorola smartphone business, rose to $16.86bn from $14.42bn in the fourth quarter of 2012. Analysts polled by Thomson Reuters I/B/E/S were looking for $16.75bn.

Paid clicks on Google's online ads jumped 31pc year-on-year, but the average cost per click that marketers paid Google declined 11pc.

Revenue in Google's core Internet business totaled $15.7bn in the last three months of the year, up 22pc from the $12.91bn in the year-ago period.

Google's consolidated net income was $3.38bn, or $9.90 per share, compared to $2.89bn, or $8.62 per share, in the year-ago period. Excluding certain items, Google said it earned $12.01 per share.

Reuters

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