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Google Q4 Revenue Up 26 Per Cent As Schmidt Steps Aside For Page

Google has posted a strong financial performance for the fourth quarter of 2010, with its earnings rising beyond analysts expectations.

The company posted an earning per share of $8.75, more than the $8.09 estimated by financial pundits. Google also posted a 26 per cent year-on-year rise in Q4 revenue of $8.44 billion, while profits were reported to be $2.54 billion.

The company has also announced that co-founder Larry Page will be replacing Eric Schmidt as the company's chief executive officer from 4 April this year. Schmidt's role in the company will now be limited to focusing on deals and partnerships.

Schmidt, commenting on his reassignment, wrote in a blog post: “In this new role I know he will merge Google’s technology and business vision brilliantly. I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better! Larry, in my clear opinion, is ready to lead.” monitors all leading technology stories and rounds them up to help you save time hunting them down.