16 Apr 2010

Google profit up

9:58 am on 16 April 2010

Google has reported a sharp rise in first quarter profit, due to a jump in online spending by advertisers.

Google, which controls roughly two-thirds of the US search market, made a profit of $US1.96 billion compared with $US1.42 billion a year ago. Revenues rose by 23%, to $US6.8 billion.

Both measures were ahead of analysts forecasts.

The company says it will continue to invest heavily in innovation, to spur future growth in core and emerging businesses.

The BBC reports Google took on nearly 800 more employees in the quarter and now has 20,621.