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Google results indicate online resilience

by Scott Bicheno on 17 April 2009, 09:52

Tags: Google (NASDAQ:GOOG)

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The web fights back

Search engine giant Google posted revenues of $5.51 billion for the quarter ended 31 March. This represented a rare three percent decrease on the previous quarter but was still up six percent on the same quarter a year ago.

"Google had a good quarter given the depth of the recession--while revenues were down quarter over quarter, they grew 6% year over year, thanks to continued strong query growth," said Google CEO Eric Schmidt.

"These results underline both the resilience of our business model and the ongoing potential of the web as users and advertisers shift online. Going forward, our priority remains investing for the long term to drive future growth in our core and emerging businesses."

52 percent of revenue was derived from outside the US, compared with 50 percent the previous quarter and 51 percent a year ago. The $733 million derived from the UK accounted for 13 percent of revenue, compared with 15 percent a year ago 12 percent in the previous quarter.

Google had a handy $17.8 billion in the bank at the end of March. It employed 20,164 people, down only 58 from the previous quarter.


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