Earnings Roundup: Google, TSYS (Jan. 24, 2013)
Jan. 24, 2013
Online search giant Google Inc. and payments processor TSYS recently released fourth-quarter financial results. Google reported revenues of $14.4 billion for the fourth quarter of 2012, an increase of 36 percent compared with $10.6 billion in the same quarter a year ago. Net income in the fourth quarter of 2012 grew 7.4 percent to $2.9 billion, compared with $2.7 billion in 2011.
Google’s total revenues for the year reached $50.2 billion, a 32.5 percent increase from $37.9 billion in 2011, marking the first time the company has reached the $50 billion plateau. “Not a bad achievement in just a decade and a half,” said Google CEO Larry Page.
TSYS reported total revenues of $479.1 million for the fourth quarter ended Dec. 31, 2012, an increase of 1.5 percent compared with $472.2 million a year ago. Net income rose 2.3 percent to $62.3 million compared with $60.9 million in the previous year.
In other news, TSYS announced today an agreement to provide full-service payment processing services for Priority Payment Systems LLC, an Alpharetta, Ga.-based independent sales organizations (ISO).