Google core functions drive profits
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Google has revealed its financial results for the first quarter of 2007, reporting a year-on-year growth of reported revenues of 63 per cent.
At $3.66 billion (£1.83 billion), the quarter's revenues also represent an increase of 14 per cent on the previous three months.
Its sites generated 62 per cent of its total revenues – a 76 per cent year-on-year increase.
In terms of its search engine marketing-facing channels, the revenue generated by aggregate paid clicks on Google's and its AdSense partner' sites increased by 52 per cent compared to the first quarter of 2006.
Eric Schmidt, chief executive of Google, put the strong performance down to the global growth of the company's core search and ads business and its focus on building partnerships.
"We continued to expand our worldwide footprint, adding important new partners and growing our platform to increase our ability to deliver targeted and measurable ads. The ongoing expansion of our network allows us to improve the user experience through new opportunities and programs," he continued.
Search engine rival Yahoo! this week reported first-quarter net income of $142 million – down 11 per cent on the corresponding quarter in 2006.
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