| GEO Business|
| Google sees record $1.6bn profit|
| Updated at: 0951 PST, Saturday, October 17, 2009|
LOS ANGLES: Google has reported its highest quarterly profit, suggesting that the Internet advertising market is bouncing back from the recession.
Google reported net profit of $1.64bn (£1bn) between July and September, up 27% on the same period a year ago.
"The worst of the recession is clearly behind us," said Google chief executive Eric Schmidt.
US computer giant IBM also reported strong profits of $3.2bn for the period, up 14% on a year earlier.
The company also delivered a more optimistic forecast for full year earnings.
Management said they too were seeing some stabilisation in the overall economic environment.