Google Q4 profits up -- but short of Wall Street's hopes

Google: quarterly profits up 30% for last three months of 2014
Google: quarterly profits up 30% for last three months of 2014

Profits were up 30% year over year, the company announced, while revenue was up 15%

Google has reported a $4.76 billion quarterly profit, up 30% on the year before, with revenue growth of 15% to $18.1 billion.

The technology giant blamed a high dollar for its less-than-expected revenues over the three-month period ending Dec. 31.

Google said it would have been $541 million higher if foreign exchange rates had been more favorable.

Google’s aggregate paid clicks, which includes clicks related to ads served on Google sites, increased approximately 11% during the quarter, while sites' paid clicks, including clicks on ads carried on YouTube, were up 18%. The average cost-per-click was down 3% over the quarter.

Jon Myers, vice president and managing director of ad tech platform Marin Software EMEA, said: "Following Facebook’s great results on mobile earlier this week, it was important that Google also posted impressive mobile stats.

"This is especially significant in the UK where clicks on mobile trump that of their European counterparts. Since Facebook upped its game on mobile, Google’s mobile ad share has fallen from over 50% in 2012 to 40%.

"But as the mobile market continues to expand, we expect Google will continue to go from strength to strength on mobile next quarter."

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