Google shares up as profit, sales surge

SAN FRANCISCO (MarketWatch)

Google Inc. shares were up sharply late Tuesday after the Internet reported a surge in profit on strong advertising sales for the fourth quarter

after reporting a fourth-quarter profit of $2.89 billion, or $8.62 a share, compared with a profit of $2.71 billion, or $8.22 a share, for the year-earlier period
On a non-GAAP basis, Google reported a profit of $10.65 a share for the recent quarter
Revenue minus traffic acquisition costs was $11.34 billion, up from $8.13 billion
The company reported as “a net loss from discontinued operations” its results from Motorola Home, the set-top box maker which Google has agreed to sell to Arris for $2.35 billion
Google posted solid gains in its core business, with advertising revenue jumping more than 20% to $12.91 billion in the quarter
In a statement, Google Chief Executive Larry Page said the company “hit $50 billion in revenues for first time last year — not a bad achievement in just a decade and a half.”