Google exceeds expectations with 7% revenue increase

Google’s latest results show total revenues were up 7% to $5.9 billion in Q3 2009, the fastest growth seen this year, providing further signs of an economic recovery today.

The company’s profits for the three-month period rose by 27% to $1.64 billion, from the $1.29 billion reported this time last year.

In the UK, Google’s revenues increased by 13.7% year on year to £466 million, helping to boost its parent company’s pre-tax profit to $2.1 billion.

The search giant’s UK operation contributed around $765 million to Google’s third quarter results, for the period ending September 30.

Eric Schmidt, Google’s chief executive, said: “While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us.

“We’re very optimistic now about the future.  We now have the business confidence to invest heavily in the next phase of innovation, hoping to invent the future as we see it.”

The investments are thought to include recruiting 2000 new staff and acquiring new businesses – “We’re open for business in making strategic acquisitions, both large and small,” Schmidt said.

The chief executive also said the company planned to push through with projects in internet search, mobile phones and other areas.