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Google reports strong Q4 performance

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by Kay Mitchell

US search engine giant, Google, said revenues rose 17% in the fourth quarter 2009 compared with the same period a year ago.

Advertising earnings were higher at the company with revenues totalling $6.67 billion (£4 billion) in the October to December period – up from $5.7 billion a year ago.

However, the figures were at the lower end of market forecasts and shares fell 5% in after-hours trading as a result.

For the 2009 year, net profit rose 54% to $6.52 billion.

Google chief executive Eric Schmidt comments: “Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year.”

The recession has meant that advertisers have reduced their budgets so advertising-dependent companies have suffered.

However, as the global economy recover, budgets are expected to rise again this year.

Google’s results come after it said it was considering withdrawing from China following cyber-attacks that targeted more than 30 firms and email accounts of human rights activists.

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News posted: January 22, 2010

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