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Google sales hit record

January 23, 2013

Shares of Google have surged 5 percent after the US-based search engine provider surprised analysts with an unprecedented jump in revenues and profits. In 2012, the firm dominated the US digital advertising market.

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Last year, Google profits rose 10 percent to $10.7 billion (8 billion euros) as the US-based Internet search company's revenues hit an all-time high of $50.2 billion. The record result was achieved on the back of a brilliant fourth quarter of 2012 in which profit was up 6.7 percent from a year earlier at $2.9 billion.

"We ended 2012 with a strong quarter," Google Chief Executive Larry Page said in a conference call, adding that the $50 billion in revenues wasn't a bad achievement for a company existing for just a decade and a half.

Google attributed its success to growing demand for its online services, which include mobile, display and video advertisements as well as its newly launched product listings. The company also pointed out that the quality and quantity of the ads on its Web properties had improved, which helped prop up declining click prices.

According to the US-based tracker eMarketer, Google takes in more than 41 percent of digital advertising revenue in the United States.

uhe/mkg (AFP, Reuters, dpa)