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Google Sees Earnings Rise Despite Economic Crisis

Google continues to prove it's more powerful than God, defying not just market analysts, but also economic realities. While everyone else is tanking (you don't even want to look at your 401k), Google actually saw its revenue increase in the third quarter of 2008. The company reported a profit of $1.35 billion in the third quarter, up 31-percent from the same time last year, and even up 3-percent from the second quarter of this year.

In a normal economic climate, we wouldn't be shocked by Google's increased profits. In this last quarter, the company released Chrome, launched a new in-video advertising program on YouTube, and it's been basking in the buzz surrounding the first Android powered handset -- the T-Mobile G1.

Greg Sterling of Sterling Market Intelligence said, "A lot of people were waiting for Google to come down to earth, but it didn't happen." Clearly, we should put Google in charge of the "rescue" (bail-out) plan. Can we finally stop pretending that the search giant is of this Earth? All powerful Google, do you demand a sacrifice? [From: USA Today]

Tags: business, economic crisis, EconomicCrisis, economy, market news, MarketNews, web