Google overcomes slowest revenue growth yet to boost 2Q profit 19 pct, topping analyst views

Google 2Q profit up 19 pct amid slowing ad sales

MOUNTAIN VIEW, Calif. — Google’s second-quarter profit rose 19 percent despite the slowest revenue growth since the Internet search leader went public five years ago.

The results released Thursday show the 19-month-old recession is still weighing on Google and the online ad market that generates virtually all of its revenue.

Google earned $1.48 billion, or $4.66 per share, during the three months ended in June. That compared with income of $1.25 billion, or $3.92 per share, for the same period last year.

Revenue rose just 3 percent to $5.52 billion. Until this year, Google had never experienced single-digit sales growth.

If not for stock compensation expenses, Google said it would have made $5.36 per share. That topped the average analyst estimate of $5.09 per share.