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Google UK revenues up 14% to £466 million

Google UK revenues up 14% to £466 million

Google's UK revenues are estimated to have grown 13.7% year-on-year to £466m, helping its parent company report pre-tax profits of $2.1bn (£1.29bn).

According to the search giant's third quarter results statement, for the period ending September 30, the UK contributed $765m compared with $776m in the third quarter a year earlier.

Factoring in historical average exchange rates puts the sterling equivalent figures at £466m this year and £410m last year.

However, this is only an estimate and does not take into account the impact of the parent company's currency hedging. A Google UK spokesman refused to comment on the figures.

The US company's mood was optimistic after total revenues grew 7% to $5.9bn, the fastest growth seen this year. Net income jumped 27% to $1.64bn.

Eric Schmidt, chief executive of Google, said: "We believe the worst of the recession is behind us. We're very optimistic now about the future.

"We now have the business confidence to invest heavily in the next phase of innovation, hoping to invent the future as we see it."

The investment will include hiring around 2,000 new staff after a period during which it stopped hiring and even trimmed its near 20,000 full-time workforce.

Acquisitions are also possible, with the company sitting on a cash pile of $22bn. Schmidt said: "We're open for business in making strategic acquisitions, both large and small."

In search, the amount of paid clicks rose 14% year on year, with evidence of a recovery in search pricing, with cost per click up 5% from the second quarter, though it is still down 6% year on year.


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