SAN FRANCISCO — Google is still trying to tune its advertising machine for an audience on mobile devices.
The company on Thursday reported revenue of $18.1 billion in the fourth quarter of 2014, a 15 percent increase from the same period last year. Net revenue, which excludes payments to Google’s advertising partners, was $14.5 billion, a 10 percent increase.
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Still, investors are wary of Google’s long-term direction.
“For many years they talked about how investments would be 70 percent in core search, 20 percent on things ancillary to search and 10 percent on moonshots,” said Ben Schachter, an analyst with Macquarie Securities. “Now we’re pretty far from that. What does that mean for the company?”
