Google revenues top $50bn as profits rise

Google has posted strong fourth quarter results for 2012, with revenues of $14.4bn helping generate profits of $2.89bn.

This was an increase on the $2.17bn generated in the same period in 2011 and represented a return to form for the firm after a poor third-quarter in 2012 when an accidental release of its earnings sent its share price tumbling.

Google's UK operations added $1.3bn to its bottom line, around 10 percent of the firms of fourth quarter earnings, the same as year ago quarter. Its US offices added $6.9bn to the firm's revenues.

The figures also helped Google hit $50bn in revenue for the year, a figure chief executive Larry Page was keen to tout to the market.

"We ended 2012 with a strong quarter. Revenues were up 36 percent year-on-year, and eight percent quarter-on-quarter. And we hit $50 billion in revenues for the first time last year - not a bad achievement in just a decade and a half," he said.

"In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."

As a result of the earnings the firm's cash pile now sits at a sizeable $48.1bn. The firm also confirmed it now has a full-time staff of 53,861 employees, of which 16,317 are from its acquisition of Motorola.

The figures underlines the strength of Google's position in the market, despite growing threats from rivals such as Facebook and Microsoft in the areas of search and Apple in the highly competitive smartphones and tablet markets.