Microsoft turns to Europe to beat ad slump
C|Net | at | by Mike
Microsoft said Friday that its $100 million investment to build its online advertising sales force is beginning to pay off in Europe, even as the global online advertising slump appears to be worsening. Although it did not detail revenue for its money-losing portal business, Microsoft said that the MSN European business unit grew sales by over 40 percent last quarter. It attributed the growth spurt to a $100 million corporate initiative begun in the fall to promote the Internet to advertisers.
"Our primary revenue stream continues to be online advertising," said Yusuf Mehdi, corporate vice president for MSN. "I'm probably as bullish as anyone in the world on its potential."