Google has announced that its revenues reached an astounding $50bn in 2012. Co-founder of Google, Larry Page, said that the new figures were “not a bad achievement” for the search engine firm. I think he may be being a bit modest.
The company amassed $14.4bn (£9bn) worth of revenue in the fourth quarter of 2012; 36% higher than the same quarter in 2011. The impressive results have demonstrated how mobile advertising is bolstering the value of online advertising for companies like Google.
Larry Page, Google’s co-founder and CEO, said: “We ended 2012 with a strong quarter. Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50bn in revenues for the first time – not a bad achievement in just a decade and a half.”
Google’s incredible $50bn year is even more impressive considering the company’s humble beginning; it was founded in 1996 as a research project by Larry Page and Sergey Brin when they were both studying for their PhDs at California’s Stanford University.
The total advertising revenue that Google made in 2012 improved by 19%. Google’s own sites accounted for 67% of the total revenues (or $8.64bn) and Google’s partner sites brought in $3.44bn, or 27% of total revenues.
Paid clicks were up 24% from 2011 and increased by 9% in 2011’s last quarter.