Google profit jumps 19 per cent
HT Correspondent, San Francisco
Jul 17, 2009 09:10 AM IST
Web search giant Google reported a 19-percent increase in profits as cost cutting made up for a decline in online ad spending due to the recession.
Web search giant Google reported a 19-percent increase in profits as cost cutting made up for a decline in online ad spending due to the recession.
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Profits rose 19 per cent to $1.48 billion from $1.25 billion a year ago. Revenue rose just 2.9 percent, down from 6.2-percent growth in the first quarter. Excluding sales passed on to partner sites, second-quarter revenue rose to $4.07 billion from $3.9 billion.
"Google had a very good quarter, especially given the continued macro-economic downturn," chief executive Eric Schmidt said in a statement.
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