Google registers record USD 50 billion annual revenue

Google registers record USD 50 billion annual revenue

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Search engine giant Google continues to break records on its way to dominating the online space. The company has registered a 36 percent increase in its revenue, according to figures from their fourth quarter financial reports from 2012. This amounts to the company earning over USD 50 billion for the previous year, a record for the internet heavyweight.

Google annual revenue

The net income for the internet company amounted to USD 2.89 billion for the fourth quarter of 2012, up from USD 2.71 billion that it earned in 2011 for the same period. The year 2011 was slower than 2012 for the search engine company, as it had managed to post USD 37.91 billion in that year, as compared to the USD 50.18 billion that it registered last year.

Larry Page, who is the CEO of Google said that he was very happy with the result, as revenues were up by eight percent quarter-on-quarter. This also included a 36 percent year-on-year increase in revenue, all within a time span of around 15 years. Page went on to say that it was a great time to be with Google, as the technology landscape is undergoing change due to the multiple screens that people are now using on a daily basis.

With its recent acquisition of Motorola Mobility, Google has suffered losses to the tune of USD 353 million due to the phone company’s market slump. However, with the advent of new Motorola devices, Google will look to turn these figures around as well.