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Posted in News on September 27th, 2007Google Profits Surge By 69% in Q1
Online search giant Google has reported net profitsof $1bn for the first quarter of 2007 according to figures published today. This is a 69% increase on the same quarter in 2006.
The company’s increased share of web search more than offset increased costs. Ad revenue generated from Google-owned sites reached $2.28bn with a 76% increase year-on-year.
Google extended its dominance into the display advertising market last week, when it bought DoubleClick for $3.1bn.
The company’s partner sites generated revenues through Google’s AdSense program of $1.35bn, representing a 45% year-on-year increase.
Eric Schmidt, CEO of Google, said: "We continued to expand our worldwide footprint, adding important new partners and growing our platform to increase our ability to deliver targeted and measurable ads."
Google’s results come after Yahoo, owner of the most visited US website and number two in internet search, this week reported an 11% fall in first quarter profits to $142m.
