Google has recorded its first ever decline in revenue, dropping from £3.8 billion in the fourth quarter of 2008 to $3.7 billion this quarter - a drop of 3%
Its revenue increased compared to the same quarter last year, however, by 6%. Its year-on-year profit is up 8%, to £0.96 billion.
In a conference call, Google CEO Eric Schmidt said the recession meant the company was in “uncharted territory”, calling the economic climate “tough.” He said that “no company is recession-proof,” and that “Google is absolutely feeling the impact.”
However, he insisted that Google’s long-term future was secure. “Our advertising model is working,” he said. “Google is now well-placed for the recovery when it occurs.”
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Source: PC Pro
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