Google sees revenues inch up 3%

Google has reported revenues of $5.52bn for the second quarter of 2009, up 3% year on year.

Google

Despite the year-on-year improvement, the owner of the most popular search engine, posted a decline in revenues on the previous quarter. In April Google reported revenues of $5.51bn – its first ever drop in quarter-on-quarter results – a 3% decline in revenues compared to the fourth quarter of 2008.

Profits rose by 19% to $1.48bn, up from $1.25bn a year ago. Operating income for the quarter was $1.87bn, up from $1.58bn.

UK revenues totalled $715m, accounting for 13% of revenues for the quarter up to June 2009, an increase of only 1% compared to the same period in 2008.

Revenue for Google-owned sites stood at $3.65bn, or 66% of revenues, up 3% compared to a year ago.

Eric Schmidt, CEO of Google, said, “Google had a very good quarter, especially given the continued macro-economic downturn. While most of the world’s largest economies shrank, Google’s year-over-year revenues were up 3%. These results highlight the enduring strength of our business model and our responsible efforts to manage expenses in a way that puts us in a good position for the economic upturn, when it occurs.

We remain focused on investing in technical innovation to drive growth in our core and new businesses”, he added.

Google is expected to launch a revamped version of its ad exchange by the end of August.

This story first appeared on newmediaage.co.uk

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