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Google's revenues jumped an estimated 16 per cent to £1.9 billion in the UK last year as the internet search giant looked to be drawing level on turnover with Britain's biggest terrestrial broadcaster ITV.
In dollar terms, Google's revenues in the UK dropped 1.7 per cent to $2.99 billion in 2009 from $3.04 billion a year earlier as sterling plunged in value.
But using an average sterling:dollar exchange rate of $1.5671 in 2009, the Evening Standard estimates Google's turnover was £1.90 billion in the UK — a rise of 16 per cent from £1.64 billion in 2008 when the average exchange rate was $1.8510.
The Californian search giant said in its fourth-quarter results for last year, published last night, that the UK represented 12 per cent of global turnover, although it does not give a breakdown of profits in its biggest international subsidiary.
Google, which chiefly generates its income from advertising, is on a par with ITV on the basis of annual turnover. Analysts at Numis Securities forecast 2009 turnover at the X Factor broadcaster at around £1.87 billion, down on revenues of £2.03 billion in 2008.
Google announced total fourth-quarter profits of $1.97 billion as global revenue jumped 17 per cent to $6.67 billion compared to a year earlier.
While Google described the results as “strong”, they did not meet some analysts' expectations. Shares initially fell 6per cent but clawed back almost all those losses by Friday morning.
Today a major diplomatic row engulging the firm over its refusal to allow Chinese censorship of the internet escalated.
The Beijing government accused America of damaging relations between the two countries after US Secretary of State Hillary Clinton called for a “principled” stand against censorship by China and other countries.
The Chinese Foreign Ministry said: “We urge the U.S. side to respect facts and stop using the issue of so-called Internet freedom to make unjustified attacks on China.”
The row began on 12 January when Google warned it had been suffering cyber-attacks — an allegation China denies.
