ADOTAS – On the eve of its third-quarter earnings report, Google CEO Eric Schmidt declared the advertising recession defeated; with the company’s earnings call, it would seem the numbers back up the bold proclamation.
After falling to a growth rate of 3% in the second quarter, the slowest in the company’s 11-year history, Google’s revenue soared 27% over the previous year — $5.94 billion compared to $5.54 billion. Ad revenue in particular pushed that number up 7%.
While Google’ earnings beat analyst estimates, many in the interactive advertising industry have been seeing signs of recovery. Although Schmidt was quite optimistic about the near future, fourth quarter is heavily saddled on the retail sector, an area still suffering from the economic decline, due to the holiday season.