Virtual Services

Feb 14

Irish Virtual Services Exports Surge.

By Michael Hennigan, Finfacts founder and editorGoogle Announces 21% rise in 2013 Revenues;

Google announced on Thursday that revenues (ex-Motorola) rose 21% at a global level in 2013 and with over 40% booked in Ireland, 2013 will have been another year when Ireland’s virtual services exports will have surged (Irish services data will be published in March 2014). On Wednesday, Facebook announced a 55% rise in 2013 revenues and in 2012, 48% of global revenues were booked in Ireland.

Last year companies such as Google, Facebook and Microsoft boosted Irish computer services exports by 15%, to cut the tax rates on their overseas earnings to low single digits.  Google said the number of clicks on its search advertisements rose 31% in the fourth quarter of 2013 from the prior year but the average revenue for each click continued its decline, dropping 11% from fourth quarter 2012. However, the search engine giant posted a 17% quarterly increase in revenue and a 15% rise in profit in the fourth quarter compared with the prior year.

On Wednesday, Google had announced plans to sell its unprofitable Motorola  smartphone unit to Lenovo Group of China for $2.9bn.  Google’s shares rose about 4% in after-hours trading, having closed at the 4 pm shutdown of normal trading at $1,135.39, up 2.6% – -giving it a market valuation of $379.3bn. The shares are up about 60% since the start of 2013, including late Thursday trading.

Google segment revenues (ex-Motorola) were $15.72bn, or 93% of consolidated revenues, in the fourth quarter of 2013, representing a 22% increase over fourth quarter 2012 Google segment revenues of $12.91bn;  Google segment revenues from outside of the United States totaled $8.77bn, representing 56% of total Google segment revenues in the fourth quarter of 2013, compared to 56% in the third quarter of 2013 and 54% in the fourth quarter of 2012. Revenues from the United Kingdom totaled $1.50bn, representing 10% of total Google segment revenues in the fourth quarter of 2013, compared to 10% in the fourth quarter of 2012 – -  most of this revenue is booked in Ireland.

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