Cost per click fell 8% from a year ago, also from one quarter earlier(investor.google.com)

investor.google.com

Cost per click fell 8% from a year ago, also from one quarter earlier

http://investor.google.com/earnings/2011/Q4_google_earnings.html

1 comments

This jives with the observation that demand from advertisers grows more slowly than the supply of advertising inventory (ie, potential places to show your ad).