Google shares jump as profits rise

Internet giant Google is continuing to defy the economic turmoil after reporting a big jump in profits for the three months to September.

The online search and advertising firm’s third quarter net income figure rose 26% to to $2.7bn after revenues climbed 33% to $9.7bn.

Shares lifted 6% in after-hours trading on Wall Street last night as Google’s figures countered expectations for a slight slowdown in the company’s growth rate.

Chief executive Larry Page said it had been a “great quarter” for the firm, adding that its social network Google Plus now boasted more than 40 million users.

It is the second time that Mr Page has beaten analysts’ forecasts since he replaced Eric Schimdt as chief executive six months ago.

Google would have made more money without heavy investment in new projects and staff numbers. The company added nearly 2,600 employees in the third quarter and looks set for the biggest expansion of its payroll in its 13-year history.