Times of Oman
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Google revenue hits $50b on advertisement
January 23, 2013 , 8 : 28 pm GST
SAVE THIS ARTICLE
Larry Page, Co-founder & chief executive, Google
Google has 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 per cent from a year earlier at $2.89 billion, and for the full year Google's earnings grew 10 per cent to $10.74 billion. Revenue in the quarter that ended December 31 was up 36 per cent from the same period a year earlier at $14.4 billion.
For the year, revenues grew to $50.2 billion. Google shares jumped more than five per cent to $738.20 in after-market trading that followed release of the earnings figures, which topped most Wall Street estimates. Google dominates the US online advertising market, which grew 14.9 per cent to $10.58 billion in the final three months of last year, according to eMarketer.
The market tracker estimated that Google takes in more than 41 per cent of digital ad revenue in the United States and 'holds more share than any other company' when it comes to online, display and mobile advertising.
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 on course. 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 programme 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. "We now live in a multi-screen world; in fact, we feel naked without our smartphones," Page said.
"Devices have been one of our biggest bets in the last few years, along with the software that goes with these devices." In an indirect shot at the Apple iPad Mini launched late last year, Page said Google's Nexus 7 "continues to define the seven-inch tablet category."
Rate this Article
Rates : 0, Average : 0
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter ImageText here:
No Comments Posted
Latest in this section
National Smart Services ties up with Spanish firm Vision Tools & Envitel
MSM index ends lower to lose at 7087.25 points
Global slowdown,security scares, hit Kenyan tourism
China exports drop, inflation eases in blow to confidence
Oman LNG achieves 10m lost time injury-free safety milestone
TOP RATED ARTICLES
Mild tremor jolts Oman’s Dibba
Times News Service
Vitamin D crunch in sunny Oman
Times News Service
Ex-managing director, six others get jail terms by Muscat Primary Court in oil bribery case
Ex-guerrilla leader Sanchez Ceren ahead in El Salvador run-off vote
Movie Review: Gulaab Gang
Siddharth Akhouri - Special to Times of Oman
More in News
Urban gardens greening Berlin rooftops, airfield
Italian violinist strikes a chord with street children
Tips for writing a good article
How to choose your writing form and communicate your creative thoughts
Natasja Engholm - Special to Times of Oman
Indonesia's illegal dentists bite back after ban
More in Features
Europe and US have legitimised neo-Nazis
Turkey should avoid being in Shanghai Five
The ever-shifting borders in the Middle East
Armed neo-Nazis have taken over Ukraine
Paul Craig Roberts
France is in sight of the violence in CAR
More in Columns
Get Top news by E-mail.
Copyright © 2014 Muscat Press & Publishing House SAOC. All rights reserved. Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial