News Article Published:
Friday, 20 April 2007
Category:
Financial Services
Google's profits have taken an upturn following growth in financial services advertising, reports suggest.
The UK represents Google's largest overseas market and saw a quarter on quarter "seasonal jump" in the growth of travel and financial services advertising.
Revenues reached £287.9 million, which constituted 16 per cent of total profits for the company, according to the Financial Times.
Eric Schmidt, chief executive of Google, said: "The global growth strategy of Google continues to work very, very well."
The news follows a report published by Global Inc into the strength of financial advertising in terms of boosting profitability.
Marketing such services "can, and often does work" the report found. However, success was dependent on formulating the right approach as well as displaying "a thorough understanding of customer needs, wants and whims".
It continued that core challenges facing financial marketers, including the benefit of branding and using advertising to stand out from other competitors.
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