Google Q3 Revenue Increases by 31%
October 17, 2008
Due to the weak economy and the
tightening advertising budgets, analysts have anticipated worse results for the search giant . In fact, Google refuted these expectations announcing rise in profits.
The company reported $5.54 billion in revenue for Q3, which represents a 31 percent increase year-over-year. The net income for the third quarter of 2008 was $1.35 billion as compared to $1.25 billion for the second quarter of 2008. Paid clicks went up with approximately 18%.
Search engine advertising continued to do well, despite
the economic downturn and proved to be the only recession-proof segment of the online
Admittedly, advertising on Google is much more affordable than
traditional marketing campaigns. Google offers the companies the chance to
target their advertisements at people who are already looking for related
information. Furthermore, search advertising is more easily measured and has the
opportunity to provide plenty of behavioral data.
Surprisingly or not, Google’s revenues from the outside of US surpassed local revenues for the first time, attributable to the weakness in the US economy. Also,
Google properties delivered twice as much growth (34 percent) as Google
network (15 percent).
Earlier this week TechCrunch reported that Google’s overall
share of search queries in the U.S. dipped from 63% in August to 62.9% in September, while Yahoo
and Ask (whose search is powered by Google) saw the biggest gains.
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