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BtoB

Google’s third-quarter revenue soars 70%

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Mountain View, Calif.—Online search engine giant Google Thursday reported that its third-quarter profits nearly doubled, as revenue rose 70%.

The company earned $733 million, or $2.36 a share, compared with $381 million, or $1.32 per share, in the same period in 2005. Revenue rose to $2.69 billion, from $1.58 billion a year earlier.

Google CFO George Reyes said during a conference call that weaker traffic growth was offset by continued growth in online advertising.

The company said 60% of its advertising revenue came from its own sites and 39% came from members of its AdSense network, which consists of Web sites that display Google ads. A year earlier, 56% of Google’s ads came from its own sites and 43% came from its network.

Google said last week that it plans to buy online video site YouTube for $1.65 billion.

—Matthew Schwartz

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