Google Revenues Increase 70%
Google released their 3rd quarter financial report today. Needless to say, the results were quite impressive. Google reported $2.69 billion worth of earnings for Q3, a 70% increase from last year’s 3rd quarter results (1.58 billion). This was also a 10% increase over the second quarter revenues of 2006, which totaled $2.46 billion.
CEO Eric Schmidt offered his thoughts:
“Our third quarter results are a testament to the strength of our network of advertisers and partners, as well as our continuing focus on users. We were particularly pleased with the contributions of our international business in a seasonally weaker quarter. In addition, we continued to forge significant partnerships with companies such as eBay, Fox Interactive Media, and Intuit that will be of great value to all involved.“
Highlights from Google’s 2006 3rd quarter report (PDF) include:
Google Sites Revenues – Google-owned sites generated revenues of $1.63 billion, or 60% of total revenues, in the third quarter of 2006. This represents an 84% increase over third quarter 2005 revenues of $885 million and a 14% increase over second quarter 2006 revenues of $1.43 billion.
Google Network Revenues – Google’s partner sites generated revenues, through AdSense programs, of $1.04 billion, or 39% of total revenues, in the third quarter of 2006. This is a 54% increase over network revenues of $675 million generated in the third quarter of 2005 and a 4% increase over second quarter 2006 revenues of $997 million.
International Revenues – Revenues from outside of the United States contributed 44% of total revenues in the third quarter of 2006, compared to 42% in the second quarter of 2006 and 39% in the third quarter of 2005. Had foreign exchange rates remained constant from the second quarter through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $19 million lower. Had foreign exchange rates remained constant from the third quarter of 2005 through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $35 million lower.
Staff Writer | WebProNews Blog