Sure it does, but when some of the profit increases are made by deliberately decreasing contrast of the background of the ads and avoiding borders to increase ad clicks, especially from old people who are unable to see contrast [0][1], that's when it crosses the line into "decline" of the user experience. They(along with other search engines) got smacked by the FTC [2], it's an interesting read.
That plus shoving Google+ down the throat of people and making them literally cry [3] (yes I mean literally) in an effort to compete with Facebook at any cost leaves a bad taste in my mouth, and reminds me of how Microsoft got it's M$ moniker.
[0] http://ppcblog.com/fbf0fa-now-you-see-it
[1] http://blumenthals.com/blog/2012/01/31/is-google-intentional...
[2] http://www.ftc.gov/os/2013/06/130625searchenginegenerallette...