Google continues sales and profits growth

Google has continued its sales and profits growth by reporting an 86% increase in sales for the fourth quarter ended 31 December, but the shares fell as the search engine giant missed analyst’s expectations.

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Google has continued its sales and profits growth by reporting an 86% increase in sales for the fourth quarter ended 31 December, but the shares fell as the search engine giant missed analyst’s expectations.

The quarterly sales of $1.92bn (£1.12bn) produced a $372m net profit, an 82% increase on a year-on-year basis.

For the year, Google reported total sales of $6.14bn, an increase of 92.5% compared to 2004. Net profits for the year skyrocketed to $1.47bn from the $399m posted in 2004.

“We are very pleased with our results as we achieved excellent performance across our businesses,” said Google chief executive officer Eric Schmidt.

“We generated significant revenue growth in our core search and advertising business, driven by continued strength in traffic and monetisation. We will continue to invest significantly as we develop innovative new products,” he said.


 

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