Google profit rise

Google on Thursday posted a five-fold rise in quarterly net profit to 1.97 billion dollars as the Internet giant turned its back on the fiscal crisis and faced off with Chinese censors. Google said fourth-quarter revenue climbed 17 percent to 6.67 billion dollars and that it finished 2009 with its net profit up 54 percent to 6.52 billion dollars. "Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year," Google chief executive Eric Schmidt said. Schmidt credited Google's management team, innovative talent, and business model as building blocks for the stellar final months of 2009. "As we enter 2010 , we remain hugely optimistic about the Internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider Web," Schmidt said. In what could be good news for the economy and bode well for other Internet companies, Google saw a 13- percent increase in "paid clicks" on ads posted at its online properties. While Google tightly managed its budget through the economic meltdown, it feels the time is ripe to acquire promising new companies or technologies, according to executives.