Google tops revenue forecasts

By Dow Jones newswires

Google reported second-quarter revenue that exceeded Wall Street expectations as the world's largest online-search provider tries to capitalise on booming growth in mobile and video advertising while spending heavily on new businesses.

On Thursday, Google reported that revenue from its network business, which includes display advertising, climbed 7 per cent to $3. 42bn.

Google will account for more than a third of digital ad spending world-wide this year, dwarfing its nearest competitor Facebook, which will have almost 8 per cent of the $140bn market, according to eMarketer.

Google has reported year-over-year revenue growth of more than 20 per cent for several quarters, although that growth rate dipped to 19 per cent in the first quarter of 2014.

Clicks on advertiser links next to Google's search results increased 25 per cent from a year earlier, but the amount Google got paid per click fell 6 per cent from a year earlier.

In contrast, revenue from the company's own websites, which includes a lot of its main search advertising business, jumped 23 per cent to $10. 94 billion.

Read more here: Business Spectator

    

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