If you quote someone, do you create a quote or a quotation? To quote is to transcribe what someone said or wrote, crediting that person:

As a result, until yesterday, the Company had been quoted only on the Pink Sheets.

"She was kind of a rainbow," Sheri Potter said Wednesday, quoting Kimmie's father, Cecil.

A quotation is the transcription of what someone said or wrote, crediting that person:

A quotation attributed to Adolf Hitler that made its way into a high school yearbook in Pennsylvania has left students, parents and educators mortified.

Yet we also see quote used to mean quotation, and not just by Johnny-Come-Lately quotation publishers like Quote of the Day, BrainyQuote, and the Quotations Page:

Twain is known for more notable quotes about more topics than you can shake a stick at.

It features the presidential seal in the center and quotes from some of the leaders Obama admires most.

Most dictionaries allow that quote can mean quotation, though some will label such usage as informal. Given the prevalence of this usage in edited news copy, don't worry overmuch about using quote to mean quotation ... unless, of course, you're writing for someone who is very formal.