There seems to be no stopping Google. It takes quite a lot of chutzpah to keep on rolling in the midst of a recession. The search engine giant reported better-than-projected quarterly results despite the growth of advertising revenue easing due to the financial crisis.
Google’s net income reached $1.48 billion in three months compared to $1.25 billion from the same period in 2008. Revenue still rose 3% with over half coming from outside the US. The figures reveal that Google earned $5.36 a share which is better than the $5.08 forecast of analysts.
“These results highlight the enduring strength of our business model and our responsible efforts to manage expenses,” Google CEO Eric Schmidt said.
It’s the second day of more positive news for the tech industry. Earlier, computer chip maker Intel, posted better than expected sales figures and announced that they are expecting a more positive half for the rest of the year.
