Google (GOOG) Announces Second Quarter 2009 Results, Profits Rise, Exceeds Expectations

Google (NASDAQ:GOOG) have just presented their 2009 second quarter results and by the way things look, they managed to beat expectations by a long shot — the company’s net income rose 18 percent ($1.48 billion, or $4.66 a share, up from $1.25 billion, or $3.92 a share) as revenue climbed a modest 3 percent ($5.52 billion, up from $5.37 billion).

Since the advertising business stabilized and thanks to the company’s cost reduction policies (19,786 full-time employees as of June 30, 2009, down from 20,164 full-time employees as of March 31, 2009, Google’s Q2 excedeed Wall Street expectations of $5.09 a share and topped at $5.36 a share.

“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. “We remain focused on investing in technical innovation to drive growth in our core and new businesses.”

Other than Google having a great first half of the year, chip maker Intel (NASDAQ:INTC) have managed to take the market by surprise – the company saw stronger-than-expected financial results. Same happened for IBM (NYSE:IBM) which rose more than 3% today. Obviously a very good week for tech companies…

Could there be a brighter future ahead and should we prepare for better technology coming our way?

Image courtesy of manfrys