Google's Q2 Revenue Climbs 3 Percent

Google reported second-quarter revenue on Thursday of US$5.52 billion, a modest 3 percent increase from a year earlier but still ahead of analyst estimates.

Net income excluding one-time charges was $1.71 billion, or $5.36 per share, up from $1.47 billion, or $4.63 per share, in the same quarter last year. Analysts had expected earnings of $5.05 per share, according to Thomson Reuters.

Subtracting commissions and fees Google pays to advertising and distribution partners, revenue came in at $4.07 billion, ahead of the consensus forecast of $4.06 billion, Thomson Reuters said.

In a statement, CEO Eric Schmidt called it "a very good quarter, especially given the continued macro-economic downturn."

For its first quarter, reported in April, Google's revenue declined sequentially for the first time in its history. This time, the second-quarter revenue was slightly above that of the previous three months.

The income figures above exclude one-time charges. On a GAAP (generally accepted accounting principles) basis, net income was $1.48 billion, or $4.66 per share, Google said.

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