According to Bloomberg, Google’s net income rose 32% to 2.17 billion in the third quarter based on year over year revenue. “Online spending is expected to account for 15% of total U.S. advertising this year., up from 12% in 2008, according to EMarketer Inc in New York.” Google is reaping the rewards of increased spending in search based ads and pushing out on mobile and display advertising.
“Display revenue is on pace to top $2.5 billion, annually, and mobile-ad sales should exceed $1 billion, Jonathan Rosenberg, senior vice-president for product management, said on a conference call.”
Mobile advertising has been touted as a future heavyweight in the revenue producing category for several years now, looks like it is about to start living up to its potential. Display (formerly the Content Network), has never been one of my favorites when it comes to pay per click advertising for a number of reasons but more and more large enterprises are building out massive content sites strictly to generate revenue using Google’s display ad network.