7/18/2008 12:18:00 PM
Google reveals Q2 net profits up 35% to £626m
Google, which runs the world’s most frequently used search engine has reported second quarter results showing net profit up 35% to $1.25billion (£626m) compared with Q2 last year.
Revenues are also up compared with last year having risen by 39% to $5.37 billion (£2.7bn).
But the profit per share in Google was $4.63 (£2.32) below Wall Street bankers’ predictions of $4.74 (£2.37) per share.
Google executives also raised the issue of facing ‘a more challenging economic environment.’
The announcement caused the company's share price to fall 7.6% to $492.75 (£247), the first time Google's stock has sunk below $500 since April 17.