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Google revenues leave competition in wake
Friday 19th October 2007, by Daniel King
Search engine giant Google has reported a 57 per cent year-on-year increase in revenues for the third quarter of 2007.
Reporting revenues of $4.23 billion (£2.05 billion), this marks a nine per cent increase on the second quarter of this year.
Eric Schmidt, chief executive of Google, said that the company was "very pleased" with the levels of "impressive growth" it has experienced across its business.
"Our core search advertising business experienced continued momentum driven by growth in monetisation and traffic, and we are creating a wider and deeper ads system through our focus on innovation, bringing more ad formats to our advertisers," he commented.
Mr Schmidt also suggested that growth was achieved due a number of factors, including the company's efforts to provide a greater number of products and services in international markets.
Earlier this week, Yahoo! announced its third-quarter revenues were $1.7 billion, which was a 12 per cent increase on the same period in 2006.
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