The Week: City News - Google revenues hit $5.5bn

Google's global ad revenue rose to $5.5 billion in the fourth quarter of 2008, a year-on-year increase of 15 per cent.

Ad revenues from the search giant's own websites made up $3.8 billion of the figure, while ad revenues from its network of websites contributed the remaining $1.7 billion. However, Google did suffer a decline in profits in the quarter, the first time that it has ever done so. Total revenue generated from UK operations also fell year on year, decreasing by 2 per cent.