Google quarterly 2009 results

While Google Inc's quarterly profit did beat Wall Street expectations it was not as high as some investors had hoped. However it bodes well for internet advertising in general as there has not been a collapse in online advertising as some has suspected.

Google did remain optimistic about the results with its CEO  Eric Schmidt, highlighting the current market.

"Google had a very good quarter, especially given the continued macro-
economic downturn. 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," said Eric Schmidt, CEO of Google

Source: http://www.reuters.com/article/ousiv/idUSTRE56F6CV20090716