7% revenue growth for Google, as UK suffers
Google has announced its financial results for the quarter ending September 2009, boasting a 7% rise in revenue growth.
The search engine reported revenues of $5.94 billion in the third quarter of 2009, representing a 7% increase over third quarter 2008 revenues of $5.54 billion.
Google-owned sites generated revenues of $3.96 billion, or 67% of total revenues, in the third quarter of 2009 – representing an 8% increase over third quarter 2008 revenues of $3.67 billion.
However, despite an overall growth the company reported a slip in its UK revenue growth, recording a $765 million result (or 13% of total revenues in the third quarter of 2009) compared to $776 million or 14% in the third quarter of 2008.
The company did report that despite the loss, operating expenses other than cost of revenues were $1.64 billion (28% of revenues), compared to $1.72 billion in the third quarter of 2008.
“Google had a strong quarter – we saw 7% year-over-year revenue growth despite the tough economic conditions. While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future,” said Eric Schmidt, CEO of Google.