Google’s pay per click platform delivered 20% year on year growth in the first quarter of 2008 according to financial reports published this week. The search giant has flourished in all areas and for the first time posted higher international revenues. Read More

Google’s first quarter earnings report exceeded Wall Street expectations and despite a sluggish US economy, turned in a 42% year on year revenue growth to reach $5.1 billion.

Significantly, pay per click advertising continued to account for a significant proportion of earnings, showing that innovations in video and mobile advertising have kept the AdWords PPC program at the top of the cash cow pile. Their 20% year on year growth was compiled in part by a 4% growth on the previous quarter’s income.

Revenue from pay per click advertising takes in to account both AdWords and AdSense, the content ad option available to PPC account holders which displays AdWords adverts on third party web sites.

While the search engine’s acquisition of DoubleClick contributed only minimally to the figures, expect it to play a huge role in next quarter’s report.

Speaking after the figures were releases, Google CEO Eric Schmidt was bullish about the the impact of the US economic slowdown saying, “It's clear to us that we're well positioned to thrive, regardless of the business conditions that surround us."

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