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Motorola ‘Mistake’ Ditched, Google Profits Soar

Motorola

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.