waynne - 6:10 pm on Oct 18, 2012 (gmt 0)
Perhaps Panda and Penguin are not paying off after all, relevant results = lower incentive to click ads.
I note the following in the report with some interest but haven't formed a conclusion about it yet.
Paid clicks: Up 33% on a year over year basis, and up 6% on a sequential basis
Cost per clicks: Down 15% on a year over year basis, and down 3% on a sequential basis.
Traffic acquisitions costs: $2.77 compared to $2.21 for same period a year ago.