Google's results for the fourth quarter of 2008 came out yesterday and look typically impressive overall.
However, whilst total global revenues increased 3% on the previous quarter, in the UK revenues dropped by $91m, from $776m to $685m. In percentage terms, that's a drop of nearly 12%.
Presumably this is largely due to sterling's weakness against the dollar - but perhaps it also explains Google's eagerness to remove restrictions on Google Adwords advertising on gambling and alcohol. And the abolition of agency commissions through the ending of Best Practise Funding on the 31st December will also help a little in the current quarter.
I estimated the revenues this morning in GBP on a blog post. Turns a Q/Q 12% drop into a 7% increase.