Google happy with MySpace deal results

Search engine giant Google has said that they are quite happy with the performance of their services on the MySpace.com social networking portal.

Google Inc Chief Executive Eric Schmidt said in a statement that the revenues from the service are better than originally expected.

He said: “The MySpace deal is ahead of our plans. The MySpace deal is looking like it is going very, very well for us.”

He was speaking at a news conference with Wall Street investors.

Google provide search services along with advertising on MySpace which is currently the web’s most popular social networking service.

MySpace faces intense competition from Facebook which has just sold a minor stake to Microsoft for USD 240 million putting the value of the company at USD 15 billion.

Popularity: 7%