Google outperforms expectations with $2bn profit

Results could indicate recovery of advertising market.
Economy, Eric schmidt, Google, Online advertising, Profit, Recession, Revenue, News, International News

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Google has announced quarterly profits of US $1.97 billion after a strong performance in its online ad business during the holiday season.

The results also showed a 17 percent revenue growth compared to the same period last year having taken $6.7 billion in the three month period.

“Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year,” said Eric Schmidt, CEO, Google.

"As we enter 2010, we remain hugely optimistic about the internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider web."

Revenue was also up 10 percent from the previous quarter, the first time the company had enjoyed double digit sequential growth since the US recession began in December 2007.

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