GOOGLE’S CORE internet business increased revenue by 21 per cent in the second quarter, easing Wall Street worries that a slumping global economy would take a toll on the company’s online advertising.

Google, which reported its first set of quarterly results since its May acquisition of Motorola Mobility for $12.5 billion (€10.3 billion), offered few details about its plans to expand into the hardware business, focusing instead on what it described as healthy trends in its traditional online advertising business.

Google’s advertising rates continued to be pressured by adverse macroeconomic and currency conditions and by consumers’ increasing use of smartphones to access mobile versions of the web.

But investors took comfort in the 42 per cent surge in overall clicks on Google’s search ads during the second quarter.

The company said revenue for its existing internet business totalled $10.96 billion in the quarter, up from $9 billion a year earlier.

Google posted overall revenue of $12.2 billion for the quarter and net income of $2.79 billion, or $8.42 per share, on a consolidated basis. – (Reuters)