Google CEO revises view of Twitter: “It’s an incredibly useful thing”

According to Dow Jones Newswires, Google Chief Executive Eric Schmidt said on Thursday he would be happy to pursue an advertising deal with Twitter.

Having previously dismissed Twitter as a “poor man’s email” system, Schmidt seemed to shift course during a call with analysts:

“It’s an incredibly useful thing,” he said of Twitter’s instant communications capability.

He said the question was how a real-time update service could make money, adding that a logical strategy would be to “hang advertising products, whether it’s a text ad or video ad, off of it.”

“I don’t know personally their strategy, but it strikes me that’s a logical strategy for them to pursue and something we would be happy to pursue.”