UPDATE: 2:58 PM: Google will “look at the possibility of expanding” the company’s Google Fiber super high-speed broadband initiative in Kansas City, CFO Patrick Pichette told analysts in a conference call. “We are really excited about this product, and it’s been a success overall. It’s not a hobby.” But before offering the broadband, video and voice service in additional cities “we have to really nail Kansas City,” he says. Google Fiber offers users two-way Internet speeds of about 1 gigabit per second. That’s far faster than cable services, which typically provide about 6 megabits per second downloads and much slower upload speeds.
PREVIOUS, 1:10 PM: Shares are up 3.6% in after hours trading following disclosure of the solid results. Not including Motorola Home, which Google recently agreed to sell, the search giant generated Q4 net income of $2.89B, up 6.7% vs the same period last year, on revenues of $14.42B, +36.2%. Analysts expected revenues of $12.36B. Not including one-time events, earnings came in at $10.65 a share, beating the consensus forecast for $10.52. Ad sales at company-owned sites increased 18% to $8.64B while sales are partner sites was up 19% to $3.44B. The number of paid clicks was +24% from a year ago, but the average cost per click declined 6%. “In today’s multi-screen world we face tremendous opportunities as a technology company focused on user benefit,” CEO Larry Page says. Execs typically hold their most interesting insights for their quarterly conference call with analysts, which will begin shortly.