Google's revenues rise 8 per cent

By Kate Nettleton, campaignlive.co.uk, Friday, 16 October 2009 09:45AM

LONDON - Google has reported an 8 per cent increase in its net revenues for the third quarter of 2009, prompting optimistic forecasts from the company's chief executive, Eric Schmidt.

Google... revenues up

Google... revenues up

Schmidt attributed the increase to the widespread recovery across the online advertising market, which is enjoying a return to growth even in challenged sectors such as financial services.

In light of this growing confidence, Schmidt added that he was intending to spend heavily again on long-term growth.

Google's operating profit margin also increased by 40 per cent over the period, a 3 per cent increase on its year-on-year figures.

As a result of the uplift in its revenues, which hit $4.38 billion – a significant increase on the $4.24 billion predicted by analysts – the company's share price rose 3 per cent to $544.

 

This article was first published on campaignlive.co.uk

X

You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs