Google announces revenue, earnings growth in contrast with losses at Yahoo! and MSN

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Mountain View, Calif.—Google announced a 77% increase in revenues to $2.46 billion in the second quarter, compared with the same period last year. GAAP net income for the second quarter ballooned to $721 million compared with $343 million in the second quarter 2005.

Google's growth, which beat Wall St. estimates, stands in stark relief to rivals Yahoo! and MSN, which both reported precipitous drops in net income for the quarter year over year in earnings released this week.

In addition, Google hires continue at a brisk pace. On a worldwide basis, Google employed 7,942 full-time employees as of June 30, 2006, up from 6,790 full time employees as of March 31, 2006.

—Carol Krol

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