Google posts high revenue results

Among the search engines, Google may still be seen as leading the way as it defied the financial downturn to post strong results for the fourth quarter of 2008.

For the three months ending December, the organisation recorded revenue of $5.7 billion (£4.16 billion), a year-on-year increase of 18 per cent.

However, this was only a rise of three per cent on the previous quarter's figures.

And following investments in AOL and Clearwire, Google's profits were down in comparison to 2007, at $382 million against $1.2 billion.

Chief executive officer Eric Schmidt said: "Google performed well in the fourth quarter, despite an increasingly difficult economic environment.

"It's unclear how long the global downturn will last, but our focus remains on the long term."

Now all eyes will be on Yahoo!, which is set to post its fourth quarter earnings on January 27th.

Search Engine Watch's Nathania Johnson predicts that the group will have bad news to report as 2008 had not been its best year.

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