Google has reported profits of $4.7bn in its fourth-quarter financial results, despite slowing advertising revenue growth.
The Google Financial Tables reveal Q4 2014 revenues of $18bn, a 15 percent increase on the same quarter last year. This was driven by total advertising revenues of $16,149, also an increase of 15 percent on the same period last year.
The revenue Google generates from its own websites slowed down compared with the third quarter, though, declining from 20 to 18 percent in year-on-year quarterly growth.
Revenue from Google's network members' websites also saw a slowdown in year-on-year quarterly growth, dropping by three percent.
Google's cost-per-click, the amount it charges advertisers for putting adverts on its websites and network, declined by three percent compared with the same quarter a year earlier.
Patrick Pichette, Google's chief financial officer, explained in an earnings call that Google's advertising slowdown came from "clean up efforts" to improve the quality of the adverts.
"We've continued to make policy changes to the benefit of our user experience but this has negatively impacted the growth in clicks specifically," he said.
Despite this decline in year-on-year growth, Google still generated in excess of $16bn in total advertising revenues.
The Q4 results close the 2014 fiscal year for Google, which saw $66bn in revenues, representing 19 percent growth over 2013.
This growth netted $14.4bn in profits, an increase of over $1.5bn on the $12.9bn in 2013.
Pichette said that the strong profits allow Google to invest in other areas of the business beyond advertising.
Pitchette admitted that this approach also involves pausing projects that Google believes have hit hurdles, such as Google Glass.
Google is not the only company reporting huge revenue and profits. Apple reported $18bn in profits for its 2015 first quarter, driven by sales of the iPhone 6.
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