Google’s has reported turnover for the first quarter of 2009 at 3% down on the previous quarter globally – but international revenues actually grew by 0.49% from $2,850 billion to $2,864 billion disguising a significant 7.23% fall in US turnover. UK turnover was $733 million compared with $684 million in the previous quarter – an increase of 7.16%. The fluctuation compared with the previous quarter – see chart below – is partly due to a 2.79% or $154 million benefit in the total turnover resulting from currency management – which probably relates largely to the performance of sterling during this period and partly explains the UK figure. However, that does not change the US performance figures.
What is clear is that these figures demonstrate how important international success really is to Google – and why many companies are looking to globalisation as a route to shore up their balance sheets.