Google announces surge in revenue in Europe due to advertising sales
November 23, 2018 / Adrian Weckler
Google has announced record revenues of €32.2bn for 2017 in its Irish accounts, a rise of €5.9bn due to the scale at which it is cornering the advertising market. However, it only paid €171m in tax here because its declared profit in Ireland was just €1.16bn out of €32.2bn in sales. The slim profit is a result of Google ascribing €21.9bn to ‘administrative expenses’, including ordinary business costs and money paid to related companies offshore. The figures show that between them, Google and Facebook are now obliterating all other online rivals for advertising, including media companies. Google says that it now “supports” 8,000 employees in Ireland, divided between permanent staff and contractors. Its country manager and vice president, Fionnuala Meehan, said that 2018 has been the company’s its most successful hiring year in Ireland.