YouTube actually close to making a profit

Google crosses fingers, hopes the site will start to make money

Google posted a three per cent increase in revenue in the second quarter of the year, which equates nicely to $5.52 billion.

This essentially means that if anyone is lucky enough to have a share in the company, then you should be receiving $5.05 per share.

Eric Schmidt, Google's CEO, is obviously happy with the results saying in a statement: "We had a good quarter. Google's business appears to have stabilized despite the still-weak economic environment."

Very pleased

Like a naughty kid who finally got a gold star at school, YouTube has gone up in Google's estimation profit-wise, with the search giant hoping (praying, more like) that the video-upload site will start bringing in the cash soon.

"YouTube is now on a trajectory that we're very pleased with," explained Schmidt.

This was backed up by the words of Google's Chief Financial Officer Patrick Pichette, who also noted: "We're really pleased both in terms of [YouTube's] revenue growth, which is really material to YouTube, and... in the not long, too-long-distant future, we actually see a very profitable and good business for us."

Via MacWorld and IT Pro

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Marc (Twitter, Google+) is the content team lead for Future Technology, where he is in charge of a 14-strong team of journalists who write many of the wonderful stories that end up on TechRadar, T3.com and T3 magazine. Prior to this he was deputy editor of TechRadar, had a 10-month stint editing a weekly iPad magazine, written film reviews for a whole host of publications and has been an integral part of many magazines that are no longer with us.