Google revenues up by 23%
Google has posted better than expected third quarter results, with revenues up 23% on last year.
The company reported revenues of $7.29bn (£4.54bn) for the quarter ending September 2010, up from $5.94 (£3.7bn) for the same period last year.
Growth in revenues from paid clicks and cost per click increased by 16% and 3% over the quarter.
Eric Schmidt Google chief executive says: “Google had an excellent quarter.”
Google’s own sites generated $4.83bn (£3bn) in revenue, 67% of revenues, with its partner sites creating 30% of total revenues with $2.20bn (£1.37bn).
Google’s UK operation created $840m (£524m), representing 12% of revenues, down from 13% in same period last year.
“Our core business grew very well, and our newer businesses – particularly diplay and mobile – continued to show significant momentum.”
He adds that the company remains committed to “aggressive investment” in both its people and its products.
Schmidt said today that the company was creating $1bn (£600m) annualised revenue from the company making from mobile advertising, and claimed its Android operating system is a great success.
The company has also acquired 24 smaller companies and start ups in the past year, and now has 23,331 full time employees worldwide.
