Google ad revenue defies slowdown

18 April 2008

Worries over the impact of the economic slowdown on online advertising have been eased by Google's latest results.

The internet search giant posted sales of $5.19 billion for the first quarter of 2008, 7% up on the previous quarter and 42% up on the first three months of 2007.

Profits increased to $1.31 billion, 30% higher than in the first quarter of 2007.

"We are obviously very pleased with another strong quarter for Google," said Google's chief executive Eric Schmidt during his regular conference call with investors.

"It is clear to us that we are well positioned for 2008 and beyond, regardless of the business environment that we find ourselves surrounded by."

Google's share price, which had been suffering in recent months, rebounded strongly on the news. Shortly after trading opened in New York on Friday morning it was up 18%.

Category: Google, Online marketing