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Google ad sales beat estimates

: Monday, February 03 - 2014 @ 08:08

Google Inc. has posted better-than-expected fourth-quarter sales figures, as retailers spent more on advertising during the holidays, making up for lower ad prices, Bloomberg has reported. Revenue, excluding sales passed on to partners, jumped 11 % to $13.6bn, while profit excluding certain items was $12.01 a share, the company said. Analysts on average had projected sales of $13.4bn and profit of $12.25. “The holiday shopping season online was strong to very strong,” said Scott Kessler, an analyst at S&P Capital IQ Inc. in New York. “Google more than likely benefited from that.”

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Monday, February 3- 2014 @ 8:08 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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