zjacob - 11:48 pm on Oct 18, 2007 (gmt 0)

Google’s partner sites generated revenues, through AdSense programs, of $1.45 billion, or 34% of total revenues, in the third quarter of 2007.

The majority of TAC expense is related to amounts ultimately paid to our AdSense partners, which totaled $1.12 billion in the third quarter of 2007.

which translates to a payout ratio of about 77% to the publishers.

[google.brand.edgar-online.com...]