Google’s dominant position under threat as rivals develop competing technology.
Ask Jeeves, the internet search engine, has come up with the best answer of all. Constantly asked by sceptics whether it would ever make money, the PG Wodehouse inspired business based in Emeryville, California, produced the clearest result this week.
Steve Berkowitz, the chief executive, announced that 2003 income was $22m compared with a $5.4m loss in 2002. Sales at the company were $107.3m compared with $65m the year before and in the fourth quarter alone Ask Jeeves sales were up 58 per cent to $31.8m. “Quarter four was another great quarter capping off a great year,” said Mr Berkowitz.
But if you thought the Ask Jeeves results were impressive you should adjust your search criteria and ask the question about profits of Yahoo!, the rival quoted search engine that announced results two weeks ago.
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Posted by Serge Thibodeau. Additional source: escalate.ca