Google have reported that they earned $14.42 billion in Q4 2012, exceeding expectations and improving their stock by 4%.

Google CEO Larry Page said that revenue rose 36% compared to a year previous and 8% to the same quarter a year ago. He added “We hit $50 billion in revenues for the first time last year.”

Informationweek added “The company appears to have succeeded in its effort to mitigate potential disappointment by reminding Wall Street analysts to update their estimates to account for Google's agreement to sell its Motorola Home set-top box business to Arris Group for $2.35 billion.

In a note posted to Google's investor website last week, VP Brent Callinicos, treasurer and chief accountant for the company, wrote, “as of this writing, a majority of Wall Street analysts who cover Google have not reflected the Home business as discontinued operations in their estimates.”

Larry Page added yesterday that he thinks the imbalance between mobile advertising and desktop advertising won't last very long. Mobile advertising is currently a lot cheaper. He says that mobile may overtake desktop as a revenue generator for Google. Their goal in the coming year is the improve upon the $50 billion generated in 2012.

Kitguru says: $50 billion has exceeded expectations.

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