Google Surges On a Strong Third Quarter

Google's shares have risen after a third quarter revenue report that has exceeded expectations.

The economy might be falling, but Google seems unstoppable in its rise. Yesterday the company reported third quarter revenue of $5.54 billion; that’s up 31% on the same quarter last year and a 3% rise over last quarter.

In a statement Google CEO Eric Schmidt said:

"We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business. The measurability and ROI of search-based advertising remain key assets for Google. While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display."