Biz Briefs: Ad Revenues Help Google Triple 4th-Quarter Profits

Feb 5, 2007  •  Post A Comment

Google tripled its profit in the fourth quarter, helped by an increase in Web-advertising sales.

The company’s net income rose to $1.03 billion on a 67 percent increase in revenue that put sales at $3.21 billion.

“Our impressive performance in the fourth quarter demonstrates the continuing strength of our business model across Google properties and those of our partners,” said Eric Schmidt, CEO of Google.

In the earnings conference call, Mr. Schmidt said that early returns from, the acquisition of YouTube look very positive, although no further details were forthcoming of the company’s proposed plan to offer its users a revenue share.

Average monthly Web traffic to Google in the fourth quarter grew 24 percent to 108.3 million compared to a year ago, according to Nielsen//NetRatings. -Stephanie Robbins

Goldberg Joins CBS Board of Directors

CBS Corp.’s board of directors now includes Hollywood veteran Leonard Goldberg, the man credited with conceiving and developing the made-for-TV movie genre and helping the late Aaron Spelling produce milestone series such as “Charlie’s Angels.”

Mr. Goldberg ran entertainment operations including ABC Entertainment, Screen Gems (now Columbia Pictures Television), and 20th Century Fox.

There is no standard length of service on the board, which lost three members last year and which now numbers nine, including Mr. Goldberg.

A CBS spokesperson said the board is constantly reviewing potential candidates. -Michele Greppi