Earnings season is swinging into high gear and today's big player is Google. The internet giant just announced its earnings for the fourth quarter of 2012, and unsurprisingly it's still raking in the dough. For the three month period ending December 31st, 2012 the company pulled in $14.42 billion in revenue -- a staggering 36 percent increase year-over-year.That doesn't even include revenue generated by Motorola's recently spun off Home division, which would have pushed the total to $15.24 billion. 2012 also marked the first year that the company broke the $50 billion barrier for total revenues. Of course, bringing in all that money means nothing if you can't actually turn a profit. Good news for investors is that Google saw a net income of $2.89 billion this quarter, up from $2.71 billion the same time last year and $2.74 billion last quarter. Not surprisingly, a large chunk of that cash is coming from Google's own properties and advertising -- with Google-owned sites accounting for 67 percent of revenues and ads pulling in $12 billion on their own.
Obviously, a vast majority of Big G's income is coming from the US, $5.99 billion in this quarter, but international markets are still hugely important for the company. 53 percent of its revenues came from overseas ventures, including $1.3 billion from the UK alone.
Motorola Mobility, on the other hand, isn't faring so well. While pulling in $1.51 billion in revenue, the phone manufacturer lost $353 million as its new parent company continues to try to turn around the business. Whether or not Mountain View is succeeding is debatable as revenues continue to drop and losses increase for the beleaguered, former icon. There is a sizable war chest at its disposal however, as Google claims to have $48.1 billion in cash or its equivalent on hand. For more financial fun check out the PR after the break and check back here for updates from the earnings call this afternoon.
Update: Larry Page briefly touched on the ongoing drama over Nexus 4 stock saying, "clearly there's work to be done managing our supply better, and that is a priority to our teams." Though, we're not sure how much control Page actually has over that.
Nikesh Arora, Google's Senior Vice President and Chief Business Officer, took a pretty big chunk of time to talk about the spread of YouTube and the earning power of ads. In case you continue to doubt that the streaming service is a viable money-making platform, Arora said he estimates Gangnam Style has raked in $8 million through ads. Who said making an ass of yourself isn't a viable career choice?