Earlier this week the Wall Street Journal reported on predictions that the search market would decline 8% year on year. They also said that we would no for sure when Google reported its results yesterday.
Well, the news is that the picture is actually quite rosy, with Google beating the streets expectations and posting 18% year on year growth. Given their dominant position in search I think it is safe to assume that there was at least some growth in the overall market.
VentureBeat reported on Google’s results here, and their report included this chart.
There were a couple of other interesting titbits. Firstly, revenues in the UK declined, which I guess puts our position as Google’s favourite international market at some risk. This chart is from PaidContent.
And secondly Google wrote down $1bn in goodwill, which as GigaOM points out makes them Good at Search, Bad at Investments. Actually, to be fair, whilst I am still to be convinced that Google is good at investments a lot of companies are writing down goodwill on deals made when times were a little headier so this news is not terribly exceptional.