First ever profits revealed by Ask Jeeves
29 January 2004
Internet search engine Ask Jeeves made a global operating profit of £12 million in 2003, in its first ever annual profit.
The world's second most popular search engine, which has an independent UK operation, saw a total revenue of about £59 million, a £23 million increase on 2002 figures.
Although Jeeves has a global share of six per cent compared to Google's 70 per cent, money came into the company from placements and sponsorships.
The search engine stated it was confident of further increasing revenue and market share.
UK chief executive Adrian Cox attributed success to its unique software and told the BBC: 'A lot of our competitors just try to mimic Google, but we like to do it differently. Our software is able to differentiate, so the user gets a greater variety of answers.'
However, some of Ask Jeeves advertising links are provided by Google and Mr Cox claimed that Google's forthcoming stock market flotation would be good news for the whole search engine industry.
Ask Jeeves now expects its revenue to grow to £78 million in 2004.
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