Google posts strong Q4 results

Online search giant Google today announced strong fourth-quarter results, with revenues of $5.7bn for the quarter ended December 31, up 18% compared to the fourth quarter last year and up 3% compared to Q3 2008.

Google said fourth-quarter net profits fell to $382m, or $1.21 a share, from $1.21bn, or $3.79 a share, a year earlier. This was due to impairment charges on its investments in Clearwire and AOL.

Excluding once-off charges, profit was $5.10 a share, exceeding analysts' average expectations.

"Google performed well in the fourth quarter, despite an increasingly difficult economic environment," CEO Eric Schmidt said.

"It's unclear how long the global downturn will last, but our focus remains on the long term, and we'll continue to invest in Google's core search and ads business as well as in strategic growth areas such as display, mobile, and enterprise."

The company employs 1,500 people in Dublin.