Rather like an intrepid local reporter who cares about nothing unless it involves something on his patch, I always start my look at the Google quarterlies by looking at the UK revenues. While most of the industry has been talking about slowdown in growth -the figure that’s been in my mind is their record breaking Q1 performance of $803m. Would they beat it this time round?

Well - apparently not. This may well have been picked up elsewhere, but according to friday’s result - they were at $774m. Still 29% up year on year; and frankly closer to the trend you’d expect from their freakishly strong Q1 figure. But - as the figures show, their year on year figures are starting to calm a little.

Possibly a result of a drop in the pound?

I’d be cautious about overinterpereting this - but it’s now such an important indicator for the state of the UK market. It’ll be interesting to see where the IAB’s half-yearly figures end up.