"We don't predict things like that," Schmidt said in a ‘CNBC’ television interview on Wednesday, when asked if the company's diversity would shield it from the economic slowdown.

But, he added, "from my perspective it's hard to imagine why you'd see a decline."

Schmidt also said Google continues to look at acquisition opportunities, but said he wasn't sure that prices were at their lows yet, or that the economic slowdown has reached its bottom.

Schmidt was speaking from the Wall Street Journal Eco:nomics conference in Santa Barbara, California, where he was scheduled to make a presentation on Wednesday evening.

The appearance comes a day after Schmidt raised eyebrows at an investor conference by referring to privately held messaging service Twitter as a "poor man's email system."

Asked about speculation that the comments were part of a negotiating tactic by Google in hopes of acquiring Twitter, Schmidt said he didn't want to speculate on buying or selling companies.