This past week Google announced its first quarter-on-quarter losses as the worldwide recession finally hit the search engine giants. This loss is the first of any kind for the company, but still shows an increase from the same quarter in 2008.

It shouldn’t be too much of a surprise to hear of the loss as trends change all the time, and Google has done well to ride the recession so well up to this point. Media Weekly reported that some of the hardest losses for Google have been here in the UK. 

Google generated $5.51 billion in revenues with a net income of $1.42 billion during the quarter. This represents a 6% increase from the same time last year but a 3% drop from the previous quarter.

In a conference call Google chief executive Eric Schmidt called it ‘a good quarter in the current circumstances but that Google cannot escape the current trend in the advertising market.’

With Google having featured in reports about contesting a takeover of Twitter with Microsoft this could be seen to pour doubt on those rumours. Schmidt has said that Google will remain very conservative for the foreseeable future.

Posted on Tuesday, April 21st, 2009 at 2:53 pm in Google, Search Engines. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.