Google's revenues rise 8 per cent

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.