Google reveals display and mobile ad revenues of $2.5bn

Google has revealed figures showing the extent of its display and mobile advertising revenues for the first and only time, according to chief financial officer Patrick Pichette.

During its third quarter earnings call yesterday, senior vice-president for product management Jonathan Rosenberg said a strong Q3 performance means that Google is on course to bring in $2.5 billion in display advertising revenue, driven by the DoubleClick ad display network and YouTube.

Although Google refused to confirm whether YouTube is yet profitable, it is now monetising 2 billion views per week, up 50% year on year.

The investment in Android for mobiles has also paid off.  Rosenberg revealed a dramatic increase in mobile search queries of 500%  over the past two years, with Google on course to bring in $1 billion from mobile search and display revenue.

This news addresses concerns that investors might have harboured regarding Google’s spending on various projects outside of its core business of internet search – with Google TV, building self-driving cars and investing in renewable energy hitting headlines most recently.  “Firing on all cylinders in display”, according to Rosenberg, it now accounts for around 10% of Google’s revenues, based on 2009’s annual revenue figure of $23.7 billion.

Rosenberg added that search is “still the most-monetisable moment on the web”.  According to eMarketer, Google commands 73.3% of US search advertising revenues.  Google’s net income has had a surge of 32% to $2.2 billion and sits on a total of $33.4 billion in cash and marketable securities.  However, Google is currently revelling in it’s success in pastures new,  proving it is truly undeserving of the label of “one-trick pony”, as it has often been referred to.