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Google reports increase in profits

Asserting it’s dominance as the leader in the search engine market, Google has reported a rise in quarterly net profit, at $US1.42 billion ($A1.95 billion) compared with $US1.31 billion ($A1.8 billion) in the corresponding quarter last year.

However the internet search giant says that revenue has declined for the first time in consecutive quarters.

Google chief executive Eric Schmidt, attributed the results to the “resilience of our (Google’s) business model and the ongoing potential of the Web as users and advertisers shift online.”

Despite revenue declining, Schmidt remains positive for the future.

“Google had a good quarter given the depth of the recession. While revenues were down quarter over quarter, they grew six per cent year over year thanks to continued strong query growth.”

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