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Last Update: 23-Jan-13 08:09 ET
Google shares soar 4% following better than expected earnings
Google (GOOG $735.06 +32.19) reproted fourth quarter earnings of $10.65 per share, $0.09 better than the Capital IQ consensus of $10.56, while revenues rose 49.6% year/year to $12.16 billion (includes Motorola Home) versus the $12.36 bln consensus. Paid Clicks- Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 24% over the fourth quarter of 2011 and increased approximately 9% over the third quarter of 2012. Cost-Per-Click- Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 6% over the fourth quarter of 2011 and increased approximately 2% over the third quarter of 2012. TAC- Traffic acquisition costs, the portion of revenues shared with Google's partners, increased to $3.08 billion in the fourth quarter of 2012, compared to $2.45 billion in the fourth quarter of 2011. TAC as a percentage of advertising revenues was 25% in the fourth quarter of 2012, compared to 24% in the fourth quarter of 2011. Motorola Mobile Revenues (hardware and other)- Motorola Mobile revenues were $1.51 billion, or 11% of consolidated revenues in the fourth quarter of 2012. Google International Revenues- Google revenues from outside of the United States totaled $6.9 billion, representing 54% of total Google revenues in the fourth quarter of 2012, compared to 53% in the third quarter of 2012 and 53% in the fourth quarter of 2011. Foreign Exchange Impact on Google Revenues- Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the third quarter of 2012 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $130 million lower. Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the fourth quarter of 2011 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $193 million higher.
