Google leaves 2012 swinging but Motorola Mobility still lagging

Cut through the investor speak and the message is clear: Google made mega bucks in the fourth quarter of 2012.

Racking in $14.42 billion in revenue, Google exits 2012 having hit $50 billion in total annual revenue for the first time. Quarterly revenue jumped 36 percent compared to Q4 2011.

There is one glaring black eye: Motorola Mobility. Though the division racked up $1.51 billion in revenue, it amounted to $353 million in losses.

"We are pleased with velocity of change at Motorola, but we are still at the beginning of Google/Motorola story," said Patrick Pichette, senior vice president and chief financial officer at Google. "It will be variable for a while as we continue to restructure the business."

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