Google sees 24% YoY growth

July 16, 2010
by Richard Gregory

Last night Google announced it’s Q2 2010 earnings and, despite missing analysts expectations, the company managed to deliver an impressive 24% YoY revenue growth.

This growth doesn’t look to be specifically attributable to any one product area but generally to growth across search, display and mobile. However, with the recent acquisition of Admob, and the growth in the Android mobile platform, there is every expectation that this product area will see considerable growth in future quarters.

As always, the reporting breaks out UK revenues, since this is still the largest market outside of the US, although UK revenues have now dropped to only 11% of Google’s total revenue, down from 13% in Q1. This suggests that other countries are finally realising a sizeable chunk of Google’s revenues.

Interestingly, while Q2 revenues in the UK grew YoY, it seems even the growth in paid search spend relating to the World Cup couldn’t reduce the annual drop from Q1. Maybe is England had made the quarter finals it would have tipped a little more $ into the pot.

Finally, Google has some astounding cash reserves now totaling more than $30bn…about £7bn more than the current market cap of Yahoo!

Latitude will shortly be publishing a report on mobile search in the UK so watch this space for more news soon.

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