SAN FRANCISCO -- Thanks to a boost in advertising sales, Google’s fourth-quarter revenue surpassed Wall Street expectations, but its bottom line fell short.
Google reported earnings, excluding certain items, of $12.01 a share on revenue of $16.86 billion.
Analysts had expected earnings of $12.20 a share on revenue of $16.75 billion.
The results came one day after Google said it would sell its Motorola Mobility business to Lenovo for $2.9 billion. And good thing, too. Motorola lost $384 million in the quarter.
Google also said Thursday that its long-planned stock split would take place April 2.
What will concern investors: Google’s average ad price during the fourth quarter fell 11% from the previous year. What will cheer them up: Paid clicks rose 31% from a year ago.
Google's stock was essentially flat in after-hours trading at $1,136.