ANKARA
Search giant Google Thursday reported that its profit increased US$3.38 billion in the closing quarter of 2013, up 17 percent from a year earlier, as a result of rising advertising revenue.
"We ended 2013 with another great quarter of momentum and growth," CEO and co-founder of Google, Larry Page said in the earnings release.
Google also declared it would pay a dividend to its stockholders in the form of Class C stock.
Google also reported a loss of US$384 in its Motorola Mobility unit.
Google sold US mobile phone company Motorola Mobility to Chinese computer maker Lenovo for US$2.91 billion on Thursday. Search engine bought Motorola two years ago for US$12.5 billion.
After the deal with Lenova, Google shares were up on Thursday.
Google reported fourth-quarter revenue of US$16.86 billion, an increase of 17 percent over the year-ago quarter.
Net revenue was US$13.55 billion, up from $11.34 billion.
According to eMarketer, a market research firm on digital media, Google earned 42 percent of all mobile advertising revenue in the United States last year.
Google’s innovations in web search and advertising have made its website a top Internet property and its brand one of the most recognized in the world.
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