Mountain View, California-based Google announced strong third quarter financial results Thursday, with overall  profit up 26 percent and revenue that climbed by 31 percent, which led to Friday stock price gains for the Internet search leader. The healthy financial performance bettered most analyst estimates, and Google chief executive Eric Schmidt said that despite the troubled "macroeconomic climate," he was "optimistic about Google's future," speaking to financial analysts during a conference call following the release of Google's third quarter results. The third quarter 31 percent jump brought Google's revenue to $5.54 billion, while profit during the quarter reached $1.35 billion, according to Google. Schmidt said Google would look to remain "responsible in the management of our expenses" during the economic downturn. "What we have concluded is that we are going to keep doing our thing," Schmidt said during a recent interview. "There is no change in the plan at Google. We'll ride this thing out," he added. At the close of markets Friday shares of Google stock were up $19.52, or 5.53 percent, to $372.54. Related Links :
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9:39 pm on Oct. 17, 2008 (utc 0)