Google reports uncharacteristic Q3 profit slump
However, the tech-tycoon has still recorded a hefty $2.8bn profit, albeit 5% less than this time last year.
However, the tech-tycoon has still recorded a hefty $2.8bn profit, albeit 5% less than this time last year.
Google has reported a profit slide in Q3. However, the tech-tycoon has still recorded a hefty $2.8bn profit, albeit 5% less than this time last year.
The uncharacteristic slump in Google’s always healthy profits is being attributed to a 2% decline in the average cost-per-click that it can demand coupled with the rising costs of its real estate empire, which swelled 37% to $3.35bn.
The slip comes as the brand attempts to diversify its income streams, away from its dependence on search advertising with the release of a new Nexus phone and tablet.
Google chief financial officer Patrick Pichette remained optimistic for the future however, saying: “We continue to be excited about the growth in our advertising and emerging businesses.”
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