Google Earnings: Revenue Grows But Disappoints Market
Google posted its first quarter results on April 16. The company reported 19% year-on-year growth in revenues to $15.42 billion. However, the profits failed to enthuse the market which was expecting far better results. The company also reported lower traffic acquisition costs in absolute numbers and as a percentage of advertising revenues. Growth in revenues from mobile advertising drove a steep 9% year-over-year decline in cost-per-click.
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