Google UK revenues ‘essentially flat’ in Q3

Google UK revenues ‘essentially flat’ in Q3

Google‘s UK business generated revenues of $776 million in the three months to end-September, according to the Q3 08 earnings statement from the search giant.

Chief financial officer Patrick Pichette told analysts that the “UK showed some softness” with the $776 million equating to a 17% increase on Q3 07.

However, compared with April to June this year, “the UK return is essentially flat…including the impact of currency.”

“The rest of EMEA performed better, driven by relatively good performance in the Netherlands and Germany,” he added.

The UK was responsible for 14% of the quarter’s total revenues of $5.54 billion, the same proportion as Q2 08, but down slightly from Q3 07 when it accounted for 16%.

No specifics about the travel vertical were revealed in the official release or during the call.

However, Pichette told analysts that, from “an advertisers’ spend perspective”, home appliances, apparels and jobs did well, while home financing, auto financing, and real estate had a tough quarter.

Paid clicks across its Google sites and AdWord partners’ were up 18% compared with the third quarter of 2007 and  4% up quarter-on-quarter.”

The statement also provided an update on Google’s warchest. At the end of September, “cash, cash equivalents, and marketable securities were $14.4 billion.”

Overall, Google reported a net income in the quarter of $1.35 billion, slightly ahead of expectations.


More information:

* Google Q3 2008 results

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