Microsoft has reported a 23 per cent year-on-year growth in revenue generated by its online marketing offering for the first quarter of 2007.

Chief financial officer Chris Liddell was quoted by ClickZ as saying: "We are now monetising more effectively in the US on our own adCenter platform than we had under third-party Overture at this time last year.

"Our display growth was in line with what is a healthy market, driven by an increase in page views."

The internet marketing revenue contributed to record quarterly results at the Redmond-based software giant.

At $14.4 billion (£7.2 billion), the revenue generated in the first three months of 2007 by the organisation as a whole was up by 32 per cent on the same period last year.

The firm reported an operating income of $6.59 billion, net income of $4.93 billion and returned $7.72 billion in cash to shareholders through share buybacks and dividends this quarter.

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