Google buoyed by 31% growth
Google has posted a 31 per cent surge in quarterly net income and said it is well positioned for growth even if the economy weakens further.
The search engine giant saw its net income climb from $1 billion (£500.9 million) in the three months ended 31 March 2007 to $1.31 billion (£654.7 million) in the three months ended 31 March this year.
Revenues climbed 42 per cent compared with the first quarter of 2007, up to $5.19 billion (£2.6 billion).
Google also saw aggregate paid clicks, including clicks related to ads served on Google sites and those of its AdSense partners, increase approximately 20 per cent over the first quarter of 2007 and approximately four per cent over the fourth quarter of last year.
Eric Schmidt, chief executive officer of Google, told investors on a conference call: “It's clear to us that we're well positioned for 2008 and beyond, regardless of the business environment that we find ourselves surrounded by."
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