Google profits buoyed by ad revenue
-
24 April 2015
- From the sectionBusiness
US technology giant Google reported a 4% increase in profits to $3.59bn (£2.38bn), as strong advertising sales helped boost the firm’s bottom line.
Google said advertising sales for the first three months of 2015 were $15.5bn, an 11% increase from the same period a year earlier.
Total revenue also increased by 12% to $17.3bn, but like other US firms, the company was hurt by the strong dollar.
Shares in the firm rose more than 3% in trading after markets had closed.
There had been fears on Wall Street that profits would be weaker due to investment in new businesses and weaker advertising revenue as more people access Google via mobile devices, where advertising rates are lower.
But the fears turned out to be unfounded – a fall in the average price of an advert was offset by an increase in the number of adverts.
“The concern was that the first quarter results could have been much worse,” Colin Gillis from BGC Financial said. “There’s a certain degree of relief rally happening.”
In a statement accompanying the results, chief financial officer Patrick Pichette said the company continued “to see great momentum in our mobile advertising business and opportunities with brand advertisers”.
However, Google did suffer from the stronger dollar. Taking out the impact of currency movements, Mr Pichette said revenue grew by 17% in the quarter compared with a year earlier.
The results also showed the firm continued hire new staff at a high rate, with employee numbers up 9,000 over the past year.
3 Comments
Your style is really unique compared to other people I’ve read stuff from.
Thanks for posting when you have the opportunity, Guess I will
just book mark this site.
Feel free to surf to my weblog; Funny Quotes app
I would like to show my thanks to you just for rescuing me from this type of trouble. After researching through the the net and obtaining notions which are not helpful, I figured my entire life was gone. Existing devoid of the approaches to the issues you have fixed by means of your main article is a critical case, as well as the kind that could have badly affected my entire career if I hadn’t discovered your site. Your own personal training and kindness in touching almost everything was useful. I am not sure what I would have done if I hadn’t come across such a solution like this. I am able to now look ahead to my future. Thanks a lot so much for this expert and result oriented guide. I will not be reluctant to refer the sites to any individual who needs guidance about this subject.
I just want to say I am just new to blogs and definitely savored your blog site. Very likely I’m want to bookmark your site . You actually come with remarkable stories. Thanks for sharing your webpage.