Friday, 18 July 2008

Google Announces Second Quarter 2008 Results

Google Inc. announced financial results for the quarter ended June 30, 2008. Google reported revenues of USD5.37 billion for second quarter 2008.

Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs. In the second quarter of 2008, Traffic Acquisition Costs (TAC) totaled USD 1.47 billion, or 28% of advertising revenues.

"Strong international growth as well as sustained traffic increases on Google's web properties propelled us to another strong quarter, despite a more challenging economic environment," said Eric Schmidt, CEO of Google.