While Google may have earned billions of dollars in revenue through features such as its pay per click services, one writer has questioned whether the company will be able to expand its business into other areas in the face of a new wave of social media.

Writing for Bloomberg Businessweek, Matthew Ingram suggested that a major issue for the company when it comes to future growth may be a lack of ability to create new innovations to provide additional revenue streams.

He explained: "Google's biggest problem is that it has consistently failed to produce any new lines of business apart from keyword-related advertising, which still produces more than 90 percent of its income."

Continuing, the writer noted that the amount of money the firm makes from other sources, such as display ads and YouTube views, is "peanuts" by comparison.

Mr Ingram added that the company's failure to produce a competitor to social networks such as Facebook my harm its business in the long-term.

Google's outgoing chief executive officer Eric Schmidt recently denied rumours that a boardroom shake-up of the company was a reaction to increasing competition from such sites.

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