Despite a gloomy global economic outlook, Google Inc. has managed to surpass earning estimates for the third quarter. Google’s quarterly earnings show that the company’s revenue has risen to 33 percent while net income grew to 26 percent, surpassing—even surprising—analysts' expectations.

"We had a great quarter,” said Google CEO Larry Page in a statement. Page also said people are “flocking” to Google+, a social networking application that recently passed the 40 million users mark.

Google’s net revenue rose to $7.51 billion while estimates were at around $7.31 billion—$200 million more than analysts predicted. The company’s acquisition costs were $2.21 billion.

Google also managed to add 2,585 new employees during the last quarter, bringing the company’s total to 31,353.

Read more at the Wall Street Journal.

 

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