With Google’s dominant position in the growing online advertising space, it’s no surprise that the king of search delivered another year of solid earnings. And the trends driving those increases link closely with what’s happening in the global economy.
Overall Google increased its earnings by 42% compared to last year, according to its press release, with revenues of $5.19 billion.
One thing worth noting is Google’s gradually increasing revenue that comes from sources outside the United States, “revenues from outside of the United States totaled $2.65 billion, representing 51% of total revenues in the first quarter of 2008, compared to 47% in the first quarter of 2007 and 48% in the fourth quarter of 2007.”
It’s obvious that Google isn’t concerned about the current state of the United States economy and CEO Eric Schmidt backed that up in a conference call, “It’s clear to us that we’re well positioned for 2008 and beyond.
Though perhaps not its most profitable enterprise, Larry Page noted that 10 minutes of video is uploaded to YouTube every minute.
Google refused to comment on a potential partnership with Yahoo, Schmidt would only say “on the Yahoo question, we are very excited to participate on the test . . . it’s nice to be working with Yahoo. We like them very much.”
It put quality of product into perspective when Sergey Brin revealed that Google has delivered at least one search improvement per day (100 this quarter). No wonder it’s the king of search.
Whether you like or hate Google, it’s hard to argue with the numbers.