Bing, Microsoft Corp.’s new search engine has been the fastest growing Internet search engine since it was introduced in May but is a distant No. 3 in the U.S. market.
According to reports, Bing’s weekly growth rate at 25 percent in June, giving it 5.25 percent of the U.S. market. Search giant Google Inc. is still on top with 74 percent market share and on number 2 is Yahoo search engine with 16 percent of the market.
Microsoft has launched a $100 million campaign to take on Google and Yahoo in late May. Google’s search dominance has helped it grow revenue at a double-digit pace, although analysts believe that next week’s earnings from the company will show that slowed in the most recent quarter.
Mark Mahaney of Citigroup said this week that he expects Google to post 14 percent growth in advertising for the quarter compared to 20 percent in the previous year.
Mahaney wrote that studies show Google is still in a “very strong position” regarding the relevance of its search results, far ahead of its new rival. He said those studies have show Bing beating Yahoo by that measure, but he will be watching data over the next three to four months before making a definitive call on that.
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