Google: Monetization of mobile ads to rise

During its announcement of its fourth-quarter results, which beat Wall Street's expectations, Google said it is expecting significant growth in mobile search queries this year with a rise in mobile advertising next year. "It's clear that 2007 will be the year that mobile search query traffic grows substantially. Our current model is to use targeted text ads and we have evidence that the monetization of those ads is higher than in non-mobile uses," CEO Eric Schmidt said during the company's conference call. "We are making a significant investment in technology around mobile because of the growth rate of mobile and the ultimate scale of that business. You won't really see its financial impact until '08."

Google reported a net income of $1.03 billion, or $3.29 per share, compared with $372.2 million, or $1.22 per share, in 2005's fourth quarter. 

For more about Google's fourth quarter results:
- check out the conference call transcript at SeekingAlpha
- read this article from InfoWorld