Reuters: Technology News: Google fourth quarter revenue outpaces Street targets, shares climb

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Google fourth quarter revenue outpaces Street targets, shares climb Jan 22nd 2013, 21:46 Tweet Share this Email Print Related News Instant View: Google puts up better than expected quarterly numbers 4:24pm EST Analysis & Opinion Citi, BofA give investors only reasons to fret Polish court rejects motion to remove crucifix from parliament Related Topics Investing and Taxes Simplified » Tech » A neon Google logo is seen as employees work at the new Google office in Toronto, November 13, 2012. Credit: Reuters/Mark Blinch By Alexei Oreskovic SAN FRANCISCO | Tue Jan 22, 2013 4:24pm EST SAN FRANCISCO (Reuters) - Google Inc's net revenue in its core Internet business increased more than 20 percent in the fourth quarter, after the world's No. 1 search engine introduced new product ads during the holiday shopping season. Shares of Google were up roughly 4.5 percent at $734.46 in after-hours trading on Tuesday. The company posted consolidated revenue, which includes its Motorola Mobility mobile phone business but not the television set-top box business it recently agreed to sell, of $14.42 billion on Tuesday. Consolidated net income in the fourth quarter was $2.89 billion or $8.62 per share, compared to $2.71 billion, or $8.22 per share, in the year-ago period when Google had not yet acquired Motorola. Excluding certain items, Google said it earned $10.65 per share in the fourth quarter. Average cost-per-click, a critical metric that denotes the price advertisers pay Google, declined 6 percent from a year ago, the fifth consecutive quarter of decline. Excluding traffic acquisition costs, Google's core Internet business generated net revenue of $9.83 billion in the fourth quarter, compared to $8.13 billion in the fourth quarter of 2011. (Reporting By Alexei Oreskovic; Editing by Bernard Orr) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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