Google revenue up 17 percent on Fourth-Quarter
Google shares jumped around 4% in after-hours trading on Thursday as the US technology giant reported growing revenue and profit in the 4th quarter of 2013.
The fourth quarter profit jumped to $3.38 billion and the revenue of Google jumped to $16.9 billion, up 17% from the same quarter a year before.
The report issued one day after Google declared the sale of its loss-making Motorola mobile phone business to computer making company Lenovo. This deal was worth $2.91 billion, which was extensively off the $12.4 billion it paid for the company in 2012.
Google is planning to enter into hardware market including Internet linked eyewear, household thermostats, and design new tablets and Android phones with associates.
The quarterly report showed that in the fourth quarter, paid clicks on the firm's online ads climbed up 31%. On the other hand, the average price for each click slipped 11%, the report added. Google's ad growth set off a steep price fall and losses from the sell-off of Motorola.
After the release of the report, Google Chief Executive Larry Page said that they completed 2013 with another great quarter of growth and momentum.
Google executives said that the company gained from the hefty demand for online ads as well as strong demand from brand retailers and marketers in the international markets.