Google Posts Mixed Quarterly Results

Larry Page
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UPDATE: The tech giant also announced a stock split scheduled for April 3.

Google said Thursday it earned $12.01 per share, excluding certain items, in the fourth quarter, below what analysts had expected.

Revenue rose 17 percent to $16.86 billion, better than what Wall Street had predicted.

Google shares were up 3 percent during the regular session Thursday to $1,135.39 and up another 4 percent after the closing bell.

Analysts expected the tech giant to earn $12.29 per share, excluding items, on $16.76 billion revenue.

Paid clicks, the number of times users click an ad and generate revenue for Google, rose 31 percent compared to the same quarter a year ago. Nevertheless, an ongoing slump in ad rates as users surf the Internet more and more on smartphones and tablets had Google's rates slipping 11 percent year-over-year.

During a conference call with analysts, CFO Patrick Pichette confirmed rumors by announcing a stock split, which the company has set for April 3.

Google said its Motorola handset unit, which the company announced yesterday it is selling to Lenovo, lost $384 million during the quarter.