After Google’s lacklustre performance in Q1, there were high expectations on the First earnings call for new CFO, Ruth Porat, and the search giant didn’t disappoint.
Revenues of £17.7BN in the quarter equated to 11% YoY growth,mostly attributed to an impressive 18% YoY increase in paid clicks.
Allegedly mobile and YouTube are delivering good growth, despite average aggregate CPCs continuing to decline. The devil’s in the detail here:
- YouTube usage and clicks are heavily on the up with a 60% YoY increase in watch time heavily off-setting watch time.
- “Mobile CPC is up and desktop CPC is not declining,” Porat says.
Furthermore, we’re seeing the business exercise stronger costs control with a QoQ decline in expenses.
You can find the full press release here.
Unsurprisingly, the share price rose heavily in after-hours trading.
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