Web giant Google racked up a 31 per cent increase in consolidated revenues on a year on year basis for the first quarter of 2013, hitting almost $14bn. Net for the period climbed to $3.35bn, compared to $2.89bn in the first quarter of 2012. Traffic acquisition costs (TAC) for the first quarter totalled $2.96bn, or 25 per cent of advertising revenues.

Motorola Mobile Revenues, including hardware and other came in at $1.02bn for the quarter, or seven per cent of consolidated revenues. Motorola Mobile’s operating loss for the period was $271m, or negative 27 per cent of Motorola Mobile revenues in the first quarter.

During the period, restructuring charges related to the Motorola Mobile business were $66m and related tax benefits were $23m.

Arch nemesis Microsoft also reported its first quarter results, chalking up an 18 per cent year on year increase in revenue from $17.4bn in 2012 to $20.5bn in 2013. Operating income was up from $6.3bn to $7.6bn over the same period.

“The bold bets we made on cloud services are paying off as people increasingly choose Microsoft services including Office 365, Windows Azure, Xbox LIVE, and Skype,” said Steve Ballmer, chief executive officer at Microsoft. “While there is still work to do, we are optimistic that the bets we’ve made on Windows devices position us well for the long-term.”

The company also announced CFO Peter Klein will leave the company at the end of the current fiscal year, after nearly four years in the role. Microsoft will be naming a new CFO from its finance leadership team in the next several weeks.

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