Google posts 19% rise in Q2 profits; slowest revenue growth

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The company had a net income of USD 1.24 billion in the June quarter of 2008, Google said in a statement.
Revenues rose by three per cent to USD 5.52 billion in the latest quarter from USD 5.36 billion in the corresponding year-ago period.

The revenue growth in the reviewed quarter is the slowest in past seven years and is considerably less than the six per cent year-on-year increase seen in the first quarter this year.
However, the company maintains that the three per cent growth in revenues was relatively good amid the recessionary conditions in global economy.
"Google had a very good quarter, especially given the continued macro-economic downturn. While most of the world's largest economies shrank, Google's year-over-year revenues were up three per cent.
"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 Chief Executive Officer Eric Schmidt said.

Google-owned sites generated a revenue of USD 3.65 billion, which accounted for two-third of (66 per cent )total revenues in the second quarter of 2009. This represents a three per cent increase over second quarter 2008 revenues of USD 3.53 billion, the statement added.
Revenue from Google's partner sites, realized through its Ad Sense program increased two per cent from last year to USD 1.66 billion.
Internet giant's revenues from outside the United States added up to USD 2.91 billion representing 53 per cent of total revenues in the second quarter of 2009.
The number of times users clicked on ads served on Google site increased about 15 per cent over the second quarter of 2008, but decreased about two per cent over the first quarter of 2009.
For the first half year of 2009, Google posted a net income of USD 2.90 billion as compared to USD 2.55 billion in the year earlier. The company's revenue increased to USD 11.03 billion for the six months ended June 30, 2009 as against USD 10.55 billion in the January to June quarter last year.
As of June 30, 2009, cash, cash equivalents, and short-term marketable securities were USD 19.3 billion of the company.

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