The world’s largest search engine Google has reported a massive shoot of profits in the fourth quarter of the ended year. Google reported that their profits shot up by 17 per cent compared to the one recorded in 2012. The company credited this success to their strong advertising revenue which have surpassed rivals Facebook and Yahoo.
Google earlier sold Motorola which they had acquired just two years ago to Chinese phone electronic giants Lenovo. In a report regarding the sale of Motorola they said that the company had recorded a loss of $384 million in the past year which more than double compared to the $152 million which it recorded in the 2012. The sale of Motorola was welcomed well in the stock market as Google shares immediately shot up. Lenovo acquired Motorola at a cost of $2.91 billion in what comes as its bid to try to breakthrough into the western market of America.
The sale of Motorola had come as a surprise move from Google but as it has emerged it was one well calculated move as the company (Motorola) has been viewed as the dragging element in the Google company. It has therefore been hindering the rise of Google shares in the stock market.
Google in a report said that Motorola would be better when served by Lenovo. Lenovo will be able to compete with rivals Samsung, Apple and Huawei in the market as it establishes its expanding business venture to the west.