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slowdown in sales but hey …

For the first quarter of the year, the American giant Google publishes sales of $ 17.3 billion, up 12% year-on-year. This growth is however the weakest since that recorded in the third quarter of 2013 and does not allow reaching the consensus of analysts.

Google-directionAccording to the chief financial officer of Google, this slow growth in sales is again explained by currencies with the strengthening of the US dollar. He estimates that outside this context, growth would have been 17%. But even at 17%, we note that this would have been the weakest revenue growth since 2013.

At $ 3.6 billion, net profit rose 4% year-on-year. Earnings per share for the first quarter (excluding exceptional items) came to $ 6.57 which is slightly lower than analysts' projections. However, the title Google has progressed in after-hours trading. There was therefore no sanction.

Google derives 90% of its advertising revenues, including 69% from its own sites. Excluding, the cost per click continues to decrease (amount paid by advertiser for a click), while the growth in the total number of paid clicks has stalled. A trend that is becoming a problem to be resolved for Google, all the more so with competition from Facebook.

Google must demonstrate the interest of the mobile platform on which users are rushing and where the group has not yet managed to reproduce the same success in terms of advertising revenue. It is probably not innocent if Google made mobile-friendly a signal for its search engine ranking algorithm.

The fact remains that Google refutes a problem in monetization on mobile and rather highlights the impact of YouTube TrueView ads which are monetized at lower costs than clicks on Google.com.