Google revenue up 39 percent in 4th quarter

    8:30 AM, Jan 23, 2013   |    comments
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    UNDATED (CNN) -- Google's sales soared in the fourth quarter as clicks on ads exploded, boosted by mobile searches but the amount that advertisers paid Google for those clicks continued to slip. Google also lost money on its Motorola business.

    Google said its revenue rose 39 percent to $11.3 billion in the fourth quarter, excluding advertising sales that it shares with partners.

    Net income rose to $2.89 billion, up 6.6 percent from a year ago.

    Shares of Google rose by 5 percent in after hours trading.

    The number of paid clicks Google racked up surged 24 percent, but the cost per click fell 6 percent compared to last year -- the fifth consecutive quarter in which average click costs fell.

    Through a search deal with Apple, and by activating 1 million Android devices a day, Google controls a 93.3 percent share of the U.S. mobile search ad market, according to online advertising analysis firm eMarketer. Though that's a stunning achievement, the entire market is worth less than $2 billion, eMarketer says.

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