This only means one thing from my perspective. The stock most related to this "cough, Google" is probably still a nice buy, especially if we see these numbers continue in the same pattern over the next year.
Recession? What recession? The mood of Google and others in the online advertising business must be one of happy Snoopy-dancing glee, as the release of the Interactive Advertising Bureau (IAB) report showed big growth for 2007.
Keyword search advertising pulled in 41 percent of the 2007 market, with $8.8 billion arriving in the coffers of search ad companies. Display advertising, including sponsorships, rich media, and digital video, totaled 34 percent of last year's market, at $7 billion.
"Despite the current state of economic uncertainty, 2007 was another record year and the 13th consecutive record quarter," David Silverman, partner, Assurance, PricewaterhouseCoopers, said in a statement. "Interactive advertising is not just the future, it is the here and now."
"Q4 2007 Internet advertising revenues hit $5.9 billion, representing historic revenues for a single quarter and a 24% increase over the same period in 2006," IAB noted.
Classifieds picked up 16 percent of ad revenue in 2007, while lead generation grabbed 7 percent. Consumer related advertisers drove 55 percent of the revenue going to the industry, with the financial and computing industries following at 15 and 11 percent respectively.
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*wat d up*