AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

imageNEW YORK: Google said Thursday first-quarter profit edged higher from a year ago as the Internet giant reported a healthy rise in advertising revenues.

Net profit rose four percent from a year earlier to $3.59 billion, while revenue surged 12 percent to $17.3 billion, led by gains from online advertising.

Like other global firms, Google saw its results hit by the strong dollar.

Chief financial officer Patrick Pichette said that on a constant-currency basis, revenue grew 17 percent from a year ago.

"We continue to see great momentum in our mobile advertising business and opportunities with brand advertisers," he said in the earnings statement.

Advertising made up the bulk of Google revenues, and receipts from its own sites and those of its partners rose more than 10 percent from a year earlier.

The results nonetheless were short of most Wall Street forecasts, and underscored competition with Facebook, which this week reported a 46 percent jump in ad revenues.

Google shares still managed to trade higher by two percent in after-hours trading to $558.06.

The earnings report comes with Google facing a formal antitrust challenge from the European Union, which alleges it abused its dominance in search to promote its own services.

The EU is also investigating Google's dominance of the global mobile phone system with its Android platform. Google has maintained that it does not stifle competition.

The results underscore Google's reliance on advertising revenues despite a range of projects such as self-driving cars, Internet balloons and other services such as local Internet delivery and a new mobile carrier business.

Copyright AFP (Agence France-Presse), 2015

Comments

Comments are closed.