Google recorded a revenue increase of 70% for the third quarter, to $2.69 billion, and nearly doubled its profits to $733 million.
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.
Revenues from outside of the United States contributed 44% of total revenues in Q3 2006, compared to 42% in Q2 2006 and 39% in the third quarter of 2005.
Google said that had foreign exchange rates remained constant from the second quarter through the third quarter of 2006, their revenues in Q3 2006 would have been $19 million lower. It added that had foreign exchange rates remained constant from the third quarter of 2005 through the third quarter of 2006, their revenues in the third quarter of 2006 would have been $35 million lower.
Google-owned sites generated revenues of $1.63 billion, or 60% of total revenues, in Q3, representing an 84% increase over Q3 2005 revenues of $885 million and a 14% increase over Q2 2006 revenues of $1.43 billion.
Eric Schmidt, CEO of Google, said: “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.”
Recent research from eMarketer said that By the end of the year, Google is expected to command a 25% market share of online adspend (see Google Could Command 25% Market Share Of Online Adspend).
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