Google's slowing growth and falling earnings with unsustainable valuation at recent price is just the beginning of fundamentals deterioration in the coming recession. advertisement budgets will be cut first when companies will brace themselves for tough economic conditions.
"Sixteen per cent of all online advertising comes from financial services companies, making it the second biggest source of advertising behind the retailing sector, said Sandeep Aggarwal, an internet analyst at Oppenheimer.
Companies that lent to subprime borrowers relied heavily on the internet to attract customers, concentrating the effect of the meltdown, said Rick Sizemore, an analyst at Multimedia Intelligence.
According to data from Nielsen/NetRatings, mortgage lenders Countrywide and Low Rate Source were two of the 10 biggest online advertisers in the US in July."
Companies that lent to subprime borrowers relied heavily on the internet to attract customers, concentrating the effect of the meltdown, said Rick Sizemore, an analyst at Multimedia Intelligence.
According to data from Nielsen/NetRatings, mortgage lenders Countrywide and Low Rate Source were two of the 10 biggest online advertisers in the US in July."
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