Yesterday Google announced that its Adsense programme made the company $2.25bn in the first quarter - an increase of 79 per cent, which produced earnings of a cool $1bn. As the VC points out that's a $10bn business growing at almost 80 per cent a year on year with margins of almost 50 per cent. Now let's be clear Google's main income is advertising - making it a media player extroadinaire. Compare that to WPP, the world's second largest network which has reported revenues for the same period of around $1.87bn on a margin around the 15 per cent mark. Blimey.
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