Thursday July 16, 09:42 PM
Google profits rise in quarter to 1.48 bln dlrs
SAN FRANCISCO (AFP) - Google (NASDAQ: GOOG - news) reported on Thursday that its second-quarter profits climbed to 1.48 billion dollars despite stark global economic conditions.
Google said it earned 4.66 dollars per share in the quarter ending June 30th as compared to 3.92 dollars per share, or a total of 1.25 billion dollars, in the same quarter last year.
Google reported that net revenue in the quarter rose to 4.07 billion dollars as compared to 3.9 billion dollars 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 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 percent higher than in the same quarter last year but that it had slipped 2 percent from the prior quarter.
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