Profits go through roof as Google sales double


Profits go through roof as Google sales double

Antony Savvas

Big increases in advertising revenue enabled internet search leader Google to double its sales and more than quadruple its profits in the second quarter.

For the three months ending June, Google said year-on-year sales increased from $700m to $1.4bn (£400m to £800m). Net profits were up from $79m to $343m.

“We had an excellent quarter,” said Google chief executive Eric Schmidt, who added that advertisers were increasingly recognising that the internet was an effective medium to sell their products and services.

The Interactive Advertising Bureau said advertisers spent more than £1.6bn on the internet during the first three months of this year.

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