Google Q1 Net Profit Up By 19%
The Internet search giant, Google, has reported a 19% increase in its profits. This increase in profit has been achieved due to the compensation of decline in online ad spending due to the recession by cost-cutting measures.
Profits went up by 19% from $1.25 billion to $1.48 billion. Revenue increased by just 2.9%, which is less than the 6.2% growth of 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.