Google revenues topped $5.37 billion for the quarter ended June 30, 2008, an increase of 39 percent compared to the second quarter of 2007. That's also an increase of 3 percent compared to the first quarter of 2008.
But those numbers still disappointed investors who basked in the glow of Google's growth and perhaps lingered a little too long in the sun.
The big news? Weakness in key sectors such as real estate, where paid search has proven resilient in the face of the recession. As SEW readers know, Auto finance average CPC was down in June; as was the total Finance category.
Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffi[...]