Motorola ‘Mistake’ Ditched, Google Profits Soar
The announcement comes a day after the tech giant announced it was selling Motorola smartphone business to Lenovo for a low price of US$2.91 bn.
Net profits also bumped up at Mountain View for the fourth quarter to December 31, to $3.38 billion, compared to $2.89 bn a year prior. This includes net losses from discontinued operations.
Google-owned sites generated revenues of $10.5 billion, or 67% of total revenue, up 22% in 12 months. Aggregate paid clicks rose 31%.
‘Other’ revenues surged a whopping 99% to $1.65 billion, or 10% of total sales.
“We ended 2013 with another great quarter of momentum and growth. Google’s standalone revenue was up 22% year on year, at $15.7 billion”, said Larry Page, CEO of Google.
“We made great progress across a wide range of product improvements and business goals.
“I’m also very excited about improving people’s lives even more with continued hard work on our user experiences.”
Google shares rose 4.2% to $1,183, in the US overnight.
And it’s little wonder Google was looking to sell off Moto cheap. The Google-owned mobile giant reported an operating loss of $384 million, accounting for 7% of Google consolidated revenues, down 4% in a year.
Motorola’s latest operating loss was half the loss recorded a year ago.
Effective tax rate was 16% for the fourth quarter ,cash and marketable securities were $58.72 billion, Google said today.