Bangalore: Google has raked in $50 billion in 2012, first time ever in the history of the search giant. Much of the company’s revenue is due to its Q4 earnings which stood at $14 billion in December alone, Complex Tech reported.

"We ended 2012 with a strong quarter. Revenues were up 36 percent year-on-year, and 8 percent quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half," said Google CEO Larry Page.

According to ZDNet, the Internet giant reported a fourth quarter net income of $2.89 billion, or $8.62 per share (statement). Non-GAAP earnings were $10.65 per share on revenue of $11.34 billion, excluding traffic acquisition costs (TAC) of $3.08 billion.

However Wall Street was expecting Google to report $12.36 billion in Q4, but the company exceeded its estimates and reported revenue of $14.42 billion excluding TCA. Google also added that the figure would have been $15.24 billion if Motorola Home had been included.  

Google sold Motorola Mobility division that makes cable TV boxes to Arris Group for $2.35 billion in December; however the deal is expected to close later this year. Google explained in the earnings report that all financials related to Motorola Home are labeled as a net loss "from discontinued operations on the consolidated statements of income."

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