Image source: Google.

In reaction to a roughly in-line fourth-quarter report, Google (NASDAQ:GOOGL) shares traded more than 4% higher after the closing bell. The stock set new 52-week and all-time highs in the process.

The online search and advertising giant reported fourth-quarter revenue of $16.9 billion, a 17% year-over-year jump, and just above analyst expectations. Non-GAAP earnings surged 13% higher, landing at $12.01 per share. Analysts were looking for $12.26. The company is not in the habit of providing forward guidance of any kind.

The Motorola Mobile segment saw revenues falling 18% year over year. Operating losses in this division more than doubled, to $384 million, or roughly $1.13 per share on an EBIT basis. Motorola's handset operations are being sold to Chinese hardware specialist Lenovo for $2.9 billion, relieving Google of these operating losses in future reporting periods. The company did not elect to classify Motorola Mobility as discontinued operations in this fourth-quarter report.

Revenue collected from Google-owned sites jumped 22% year over year and accounted for two-thirds of total revenues. The volume of paid clicks increased 31% from the year-ago period, moderated by 11% lower cost per click.

In other news, Google's board of directors approved the plan to issue a third class of Google shares to existing Class A and Class B shareholders. One new Class C share will be issued for each Class A or B stub on April 2, to shareholders of record as of March 27. The new shares will adopt the old GOOG ticker, while Class A shares move to a new GOOGL ticker. The super-voting Class B shares will remain unlisted, as before.