09:51 24 January 2013
Google’s efforts to improve advertising, research, and development have paid off. The search engine giant announced that they “ended 2012 with a strong quarter.”
Based on the announcement, Google’s profitfor the final three months of last year was £1.83billion, which is 7per cent higher, compared to the same period in 2011.
Due to the better-than-expected results, Google’s shares immediately rose by almost 5per cent in after-hours trading.
Google’s chief executive Larry Page said: "We ended 2012 with a strong quarter,"
"And we hit $50billion 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."
Meanwhile, analysts agree that Google’s performance was impressive.
Business looked really strong, especially from a profitability perspective - they really grew their margins in the core business, which is quite amazing.
Most of that strength seems to be coming from international markets, which grew revenues quite substantially - up 23per cent, year-over-year." said Sameet Sinha from B Riley.
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