Google's profits soar as share price slips
No pleasing some people
Google posted bumper Q2 results on Thursday with net income of $343m, compared to profits of $79m in the same period last year. For the quarter ending 30 June, the search engine behemoth posted record revenues of $1.38bn up 98 per cent on its revenues in Q2 2004 and 10 per cent up on the $1.26bn it clocked up in Q1 2005.
More than half this revenue ($737m or 53 per cent of the total) came from Google owned sites. Revenues generated on Google's partner sites, via syndicated advertising through Google's AdSense programs, contributed $630m. The company paid out $494m of this revenue back to partners, up from $277m in 2004. Although Google posted stellar results Wall Street gave them a caning. Shares in the search engine giant fell more than six per cent to $294 in after hours trading. ®