3Q Google Profit Nearly Doubles

Oct 19, 2006  •  Post A Comment

Google revenues soared a whopping 70 percent in the third quarter to $2.69 billion, the company reported today, and third-quarter profit nearly doubled to $733.4 million from $381.1 million a year earlier.

“Business is very, very good here at Google,” said Google CEO Eric Schmidt on an earning call this afternoon, citing improvements in search quality and relevancy, as well as improved ad products. He also highlighted as bright spots the deal the company struck with MTV Networks in August to syndicate the network group’s video online, its agreement to provide search ads on MySpace and its pending acquisition of YouTube.