Google revenues double to deliver maiden $52m profit

by Staff,, Brand Republic 22-Oct-04, 10:30

NEW YORK - Google has made a net income of $52m for the second quarter of the year, as it reported its results for the first time since floating in August.

The search engine reported record revenues for the quarter at $805.9m (£440.9m), more than double the figure for the same period last year. Google's AdSense programme contributed 48% of revenue, $384.3m, while the remainder came from revenue generated by Google-owned sites.

Eric Schmidt, chief executive officer of Google, said: "Record revenues, robust margins and cash generation all illustrated strong performance and execution over the last quarter.

"Our commitment to users and to the development of quality products and services for them clearly translated into robust financial results. That dedication to our users, combined with our relentless technology innovation and market opportunity makes us very optimistic about our company's future."

Some are heralding a second dotcom boom, with eBay, Amazon and Microsoft all reporting good profits.

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