Google has announced a 3% increase in revenues to $5,52-billion for its second quarter ended 30 June with a dramatic 19% rise in profits to $1,48-billion.

"Google had a very good quarter, especially given the continued macro-economic downturn," says Google CEO, Eric Schmidt. "While most of the world's largest economies shrank, Google's year-over-year revenues were up 3%. These results highlight the enduring strength of our business model and our responsible efforts to manage expenses in a way that puts us in a good position for the economic upturn, when it occurs.
“We remain focused on investing in technical innovation to drive growth in our core and new businesses," Schmidt adds.