Google CEO Eric Schmidt discussed Twitter during the search engine giant’s April 16 earnings call. The popular microblogging site, which lets users post 140-character "tweets" about their status in real time, was rumored to be in Google's acquisition crosshairs earlier this month.

"I think Twitter proves that innovation is alive and well in Silicon Valley, and it’s really come on board very strong in the last year," said Schmidt. "It is an incredibly useful thing."

The question about Twitter directed toward Schmidt did not touch on the acquisition rumors, and nor did Schmidt volunteer information about any talks that may have transpired.

Beyond its usefulness to the general public and the enterprise, Twitter has been exploring how to effectively monetize itself, an increasingly looming question for a number of social networking sites looking to justify the enormous amounts of money their investors have devoted to their development.

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