Google's profits jump 30%
Search Engines
21 April 2008
Internet search company, Google, has returned profits 30 per cent greater than last year.
Its first quarter profits reached $1.31 billion (£656.4 million) and turnover was up by 42 per cent to $5.19 billion (£2.6 billion ).
Google chairman and chief executive Eric Schmidt said: "It's clear to us that we're well positioned for 2008 and beyond, regardless of the business environment that we find ourselves surrounded by."
The company has become involved in the ongoing battle for rival search company, Yahoo!
Its own search advertising has appeared on Yahoo!'s pages, as part of a trial collaboration between the two traditional adversaries.
However, Microsoft is currently bidding to take over Yahoo! and any solid deal between the search firms could affect Yahoo!'s value.
In his recent letter Steve Ballmer, head of Microsoft, claimed its bid was "the only alternative put forward that offers your shareholders full and fair value for their shares".
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