Google reported earnings for its fiscal fourth quarter of 2014 on Thursday. The company announced $US6.88 EPS on $US14.48 billion in net revenue, both of which fell below Wall Street expectations. And, as expected, Google’s advertising revenue continues to slow down.
Based on company data charted for us by BI Intelligence, Google’s ad revenue grew about 14% year-over-year in Q4, but its growth has been slowing down since in the middle of last year. Generally, Google’s ad revenue growth has been trending downward for the past two years. Even though Google is getting more paid clicks as its audience grows, its cost-per-click has been going down pretty consistently over the last few years, so advertisers have been paying Google less.