US online advertising enjoyed a bumper third quarter, judging by preliminary figures from the Interactive Advertising Bureau and PricewaterhouseCoopers.

Internet advertising revenues totalled $1.745 billion (€1.427bn; £1.001bn) in Q3, based on results from the fifteen biggest online ad sellers. This is up 5% from the second quarter and marks a 20% surge compared with Q3 2002.

"I don't think it's out of the realm of possibility that we're looking at an annual figure north of $7bn," predicted Pete Petrusky, PwC's director of new media.

A full-year total in this region would mark a recovery to 2001 levels. Advertisers spent $7.13bn online two years ago, but this figure dropped to $6.01bn in 2002.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff