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Google just announced their third quarter profits 26%. Even with the global economy on the downturn, Google continues to grow at an accelerated rate.

Google’s shares traded in after hours on Thursday night and rose 6.3% or $35.51 to $595.01. Online Ads sales have seen little affect in the global economic downturn, in fact the US internet ad revenues reached $14.9 billion in the first half of 2011, a 23% increase from a year earlier.

Google did point to some weakness in the Western Europe, but the stronger over all international markets more than made up for this weakness.

Paid click ads rose more than 28% and smart phones search engine income is now on pace to generate over $2.5 billion over the next year.

Overall the company has reduced expenses and increased profit, posting a quarterly profit of $2.73 billion on total revenue of $9.72 billion.

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