Google, the world’s No. 1 search engine, posted a net revenue figure of $4.38 billion for the third quarter, which was 8.5 percent higher than the figure last year. It also beat the analysts’ expected value of $4.24 billion.

In addition to higher than expected profits and earnings, the company is also looking forward to strategically acquire some large and small companies every year or two.

Google’s shares rose 3.2 percent to $547 after reports of its earnings came out. According to Google executives, large advertisers spent more on search ads and the number of online customers increased, which helped the company to achieve its best quarter-on-quarter revenue growth since the final quarter of 2007.

The amount advertisers pay for their ads to appear alongside search results also increased over subsequent quarters. Executives also said that YouTube, which Google acquired in 2006, would become profitable very soon.

Google’s net income was $1.64 billion or $5.13 per share, which was up from last year’s income of $1.29 billion or $4.06 per share. These results have come up as Microsoft looks to challenge Google’s supremacy in web search by coming up with a spruced-up search engine called Bing. But analysts say that Google need not worry about any immediate threat from its competitors.

Related news articles:

1. Despite drop in sales, IBM posts stronger earnings than anticipated
2. Yahoo profits collapse 78%: 700 workers to be laid off
3. Google to cut 200 jobs
4. Apple’s shares touch record high as Mac and iPhone sales exceed estimates
5. Slow Wireless growth pulls back BCE profit by 4.2%