Google posts 19 pct rise in Q2 profit

Marking the slowest quarterly revenue growth in the past seven years, internet search giant Google has reported a 19.35 per cent rise in net income to USD 1.48 billion in the second quarter ended June 30.

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 3 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 6 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.