reblogged from Seth Fiegerman
It looks like 2012 was a pretty good year for Google.
The company hit $50 billion in annual revenue last year for the first time ever thanks in part to the strength of its fourth quarter earnings. Google generated $14.42 billion in the December quarter, an increase of 26% from the same quarter in 2011, and beating Wall Street’s estimates of $12.36 billion in revenue for the quarter.
By comparison, Google generated just under $38 billion in revenues in 2011.
“We ended 2012 with a strong quarter,” said Larry Page, CEO of Google. “Revenues were up 36% year-on-year, and 8% 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.”
Investors had been somewhat concerned about the earnings report in recent days after Google’s treasure and chief accountant advised analysts
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