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Digital advertising likely won't compensate for loss of traditional revenues.

Google Inc. late Thursday reported a second-quarter profit that topped Wall Street estimates thanks to tight cost controls, though the Internet giant's numbers for the period also reflected meager revenue growth due to less online advertising.

"The Lam/Suen family was allegedly using click fraud to make more money for their site WoWMine.com—mainly by clicking competitors' ads until their competitors' ad budgets were exhausted.

Facebook has begun tapping a new revenue stream with the introduction of an internal payments system, a move that might help the fast-growing social networking website achieve profitability while being less reliant on advertising.

Twitter is most interested in striking distribution partnerships with big Internet and media companies, not in being acquired or striking an advertising deal, says company director Fred Wilson.

There are over 150 million users but the economic crisis is taking and effect on Facebook. The source of all its revenue is from web ads, which and with the global financial crisis web advertising has been hit hard. Because of this "it's not wildly profitable even if it is profitable at all."