Google Thrives Despite Weak Economy

Internet search giant Google,shrugging off a weakening US economy,reported strong third-quarter profits last month which beat the expectations of Wall Street analysts.Net profits rose 26 per cent in the third quarter from the same period last year to 1.35 billion dollars while revenue, at 5.54 billion dollars,was up 31 percent from the same period of 2007.
The mountain view,California-based company reported diluted earnings per share of 4.92 dollar,better than the forecast of 4.76 dollars per share.The internet search giant is hoping to conclude an advertising deal with Yahoo that would put Google technology to work targeting search ads on Yahoo pages.
The deal is currently being reviewed by the US department of Justice because of anti-trust concerns over an advertising tie-up between Google and Yahoo,respectively number one and number two in the internet ad market.