Sunday, July 19, 2009

Google profit soars to $1.85bn

GOOGLE has reported that its second-quarter profits climbed to $US1.48 billion ($1.85 billion) despite stark global economic conditions.

Google said overnight net income was $US4.66 per share in the quarter ending June 30 against $US3.92 per share, or $US1.25 billion, in the same quarter last year.

Google reported that net revenue in the quarter rose to $US4.07 billion as compared to $US3.9 billion the same period in 2008.

"Google had a very good quarter, especially given the continued macro-economic downturn,'' the internet giant's chief executive, Eric Schmidt, said in a press release.

"These results highlight the enduring strength of our business model and our responsible efforts to manage expenses in a way that puts us in a good position for the economic upturn, when it occurs.''

Google reported that "paid-click'' advertising was 15 per cent higher than in the same quarter last year but that it had slipped two per cent from the prior quarter.



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