Google's Q2 revenue climbs 3 percent

Eric Schmidt called it "a very good quarter" considering the shaky economy

Google reported second-quarter revenue on Thursday of $US5.52 billion, a modest 3 percent increase from a year earlier but still ahead of analyst estimates.

Net income excluding one-time charges was $US1.71 billion, or $US5.36 per share, up from $US1.47 billion, or $4.63 per share, in the same quarter last year. Analysts had expected earnings of $US5.05 per share, according to Thomson Reuters.

Subtracting commissions and fees Google pays to advertising and distribution partners, revenue came in at $US4.07 billion, ahead of the consensus forecast of $US4.06 billion, Thomson Reuters said.

In a statement, CEO Eric Schmidt called it "a very good quarter, especially given the continued macro-economic downturn."

For its first quarter, reported in April, Google's revenue declined sequentially for the first time in its history.

This time, the second-quarter revenue was slightly above that of the previous three months.

The income figures above exclude one-time charges.

On a GAAP (generally accepted accounting principles) basis, net income was $US1.48 billion, or $US4.66 per share, Google said.

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James Niccolai

IDG News Service
Topics: Google, revenue, financial results
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