Web search engine Google has seen better than expected quarterly results even as income growth slowed following the economic recession. The company saw net income reach $1.48bn (£900m) in the 3 months to 30 June, compared to $1.25bn a year before. Revenue rose 3% for a period at $5.52bn and over half - 53% - came from outside the UNITEDSTATES. Analysts reacted largely positively to the results, noting that the company had performed well in holding costs. The firm was cheerful about the results especially given the continued big economic downturn.
Chief executive Eric Schmidt said: "These results highlight the continuing strength of our business model and our responsible hard work to manage expenses." Google earned $5.36 a share, excluding certain items, better than the $5.08 per share forecast by analysts. Sameet Sinha, an analyst with JMP Securities said: "The numbers are good. Revenue was in line with expectations, and strong operating efficiencies were brought about by the new chief executive." It certainly shows that Google is a best company for online advertising. Generally, the focus is on what's going to happen in the second half. Shares in the firm Google expanded 1% to $442.60 on but later dropped 2.4% in after-hours trade.

source : bbc news