Wednesday 24 May 2017

Google's new boss adds to tech firm's revenue

Technology

Internet search giant Google's latest results came in ahead of the most optimistic expectations.

The figures eased concerns that its battle with Facebook and Twitter is costing too much and affecting growth.

Google's flagship search advertising business, combined with new efforts like display and mobile advertising, boosted the company's revenue by 36pc in its first three months under the helm of new chief executive Larry Page.

Net profits in the second quarter climbed to just over $2.5bn (€1.75bn), or $7.68 a share, from $1.84bn, or $5.71 a share, a year earlier. Net revenue, which excludes fees paid to partner websites, jumped 36pc to $6.92bn, ahead of the $6.55bn expected by analysts.

Google also reported a strong start for its two-week old social networking service, with Mr Page telling analysts the company had signed up more than 10 million people for Google+.

Google is fighting heavyweights including Apple and Microsoft, as well as Groupon, as it seeks to protect its business at a time when mobile gadgets and social media are redefining the way consumers use the web.

Irish Independent

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