Google rebounds with strong fourth quarter results


Google rebounds with strong fourth quarter results

Warwick Ashford

Google has reported a rebound in its core search advertising business in the last quarter of 2009, with total revenues of $6.67bn, up 17% compared with the same period the year before.

In another sign of a tech sector recovery, Google reported a record fourth-quarter profit of nearly $2bn, up from $382m the year before, and revealed that it has increased spending on hiring and marketing to prepare for growth.

"Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year," said Eric Schmidt, chief executive at Google.

"As we enter 2010, we remain hugely optimistic about the internet and are continuing to invest heavily in technological innovation," he said.

Analysts said that despite Google's push to YouTube, Android and Google Apps, the vast majority of the firm's sales and profit continue to come from search advertising.

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