Google says worst of downturn is over; internet advertising picks up

Google on Thursday declared the worst of the recession over as it reported a surprisingly strong 8 per cent increase in net revenues in the latest quarter and earnings per share that were 10 per cent ahead of Wall Street’s expectations.The increase reflected a partial recovery in pricing for the company’s search advertising, which has withstood the broader advertising slump better than other forms of online media during the slump. see:Google Says Internet Advertising Picked Up Steam in Third Quarter
Google Inc. shook off the recession and said its Internet advertising business picked up steam during the third quarter, as marketers began spending again.The Internet search company’s revenue increased 7% from the year-earlier quarter to $5.94 billion. That compares with just 3% year-over-year growth in the second quarter. Revenue was also up 8% sequentially from the second quarter, picking up after being flat from the first to second quarter of the year. delivers forecast-beating financial results
Google, the internet giant, provided further signs of economic recovery today as it delivered a forecast-beating set of quarterly results and signalled plans to resume its policy of taking on staff.Beating earlier Wall Street predictions, the California-based company reported revenues of $5.94bn for the last three months, an increase of 7% on the same period twelve months ago. Profits for the quarter rose by 27% to $1.64bn, from the $1.29bn reported this time last year. Eric Schmidt, Google’s chief executive, said he thought the company’s growth was a sign that a wider economic recovery was underway. Ad Sales Spur Google in Third Quarter
Consumers are loosening the grip on their wallets and advertisers are trying to get their attention — at least on the Internet.That was the upshot of Google’s stronger-than-expected third-quarter results on Thursday. In the latest sign that the global economy may be on the mend, Google said that its net income rose 27 percent in the third quarter as brisker advertising sales lifted revenue 7 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.