Google growth slows dramatically

Google Inc. eked out a higher profit in the first quarter as the Internet search leader trimmed its work force and winnowed other expenses to overcome the slowest revenue growth since the company went public nearly five years ago.

The results released Thursday illustrated how the recession is even squeezing thriving companies like Google.

“No company is recession-proof,” Google Chief Executive Eric Schmidt told analysts in a conference call. “Google is absolutely feeling the impact.”

Schmidt and other Google executives repeatedly emphasized that the global economy remains in “uncharted territory.”

The cautionary commentary seemed to deflate investors. After initially surging more than 5 percent, Google shares backed off and were up $1.75, or 0.5 percent, at $390.49 in Thursday’s extended trading. The stock ended the regular session at $388.74, up $9.24.