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The Google logo is seen at the Google headquarters in Mountain View, California. The company beat Wall Street expectations with fourth quarter 2012 earnings.
Google beat Wall Street expectations with its fourth quarter 2012 earnings, reported Tuesday. The company made $14.42 billion and earned $10.65 per share (analysts expected $10.52). The Internet search giant continues to prove that search is a very big business and that there's still growth to be had, even as the Internet transitions from PCs to mobile devices.
On that: of the $14.42 billion that Google brought in for the quarter, $1.51 billion came from Motorola Mobile, a substantial dip from the nearly $2.6 billion that Google saw in the third quarter. At ZDNet, Larry Dignan finds plenty to be confused about here — and that makes sense, given that Google bought what was then called Motorola Mobility for $12.5 billion. Dignan says that, sure, the acquisition was all about Motorola's patents. But $12.5 billion to defend yourself from patent trolls? Doesn't Google want to make a business out of mobile devices?
A Google+ logo is seen at Google's annual developer conference, Google I/O, at Moscone Center in San Francisco. The search giant ran into some trouble today on Wall Street.
Two bad things happened to Internet search giant Google Thursday: the company missed Wall Street earnings expectations for the third quarter by a country mile; and its earnings release hit the wires in the middle of the trading day, rather than after hours.
The stock has stopped trading on the Nasdqaq exchange while everybody gets this all sorted out. In an amusing turn, a Twitter account has already been created for @PendingLarry, a reference to a line from Google's premature release to the SEC, "PENDING LARRY QUOTE," with the "Larry" being Google CEO Larry Page.
Former Securities and Exchange Commission Chairman Harvey Pitt was on CNBC Thursday saying that the screwup with Google's release — which could equally be blamed on R.R. Donnelly, who handles the technical aspects of Google's SEC reporting — means that folks who just lost a ton of money ($19 billion market capitalization basically vanished in a matter of minutes) will lawyer up and sue everybody in sight.