On paper, Google makes only 120,000 euros in Romania

Google, the world’s no. 1 in Internet search and advertising, posted 121,416 euros in revenues and an over 2,000-euro gross profit in Romania, according to Trade Registry data for Google Bucharest SRL, the company that the American giant set up in January 2008.

The data do not, however, reflect the size of Google’s business, says Calin Fusu, head of Neogen – one of the biggest local online companies. “Their revenues are in the range of a few million euros,” estimates Fusu. The opinion is shared by Orlando Nicoara, manager of Apropo Media, who puts Google’s 2009 revenues at “3 million euros at least”. Google’s revenues are generated by advertising published by individuals and companies via Google’s online advertising network.

Google, which holds 4 of the top 10 most visited websites in Romania according to Alexa.com website, does not publish financial data for Romania. Last year, the local online advertising market amounted to 15.4 million euros, which does not include Google’s business.