Google increases profit and revenue
Despite strong headwinds from the Chinese government, competitors, and privacy advocates, Google managed to increase its profits and revenue in the first quarter. The internet giant exceeded analysts' forecasts.
Compared to the previous year, profit rose by 38% to 1.96 billion dollars. Turnover climbed by 23 percent to 6.78 billion dollars. Google mainly earns its money from advertising in the search results environment. Nevertheless, Google was spared massive slumps in the poor economic situation. The good result indicates a faster recovery of the online advertising market than is the case in other economic sectors. "Advertisers are coming back," says Patrick Pichette, CFO of the Internet giant based in Mountain View, California, according to Horizont.net.
The Group is in dispute with the Chinese government.
Google censorship in China: authorities to correct public opinion
Mobile Google services partially blocked
In addition, data protectionists in Germany have attacked the Street View project, which Google uses to photograph entire cities. The internet company is also under pressure from rivals such as Facebook with its growing fan base and Microsoft with its search engine Bing. As Pichette announced, the company will continue to "invest heavily in innovation to drive growth in our core business and new areas and to build the future of an open internet".
The Group is in dispute with the Chinese government.
Google censorship in China: authorities to correct public opinion
Mobile Google services partially blocked
In addition, data protectionists in Germany have attacked the Street View project, which Google uses to photograph entire cities. The internet company is also under pressure from rivals such as Facebook with its growing fan base and Microsoft with its search engine Bing. As Pichette announced, the company will continue to "invest heavily in innovation to drive growth in our core business and new areas and to build the future of an open internet".
