Google Q3 profits up 46 per cent

Google's profits for the third quarter rose to $1.07bn

Google has beaten Wall Street expectations, reporting a 46 per cent rise in profits for the third quarter thanks to increased market share and tighter control on expenses.

Profits for the quarter rose to $1.07bn, compared to $733.3m for the same quarter last year. Overall revenue was $4.23bn, a rise of 57 per cent on last year.

"We are very pleased with the impressive growth we experienced across our business," said Google chief executive Eric Schmidt.

Google shares rose around one per cent in response to the news to reach $645.18 on the Nasdaq.

Internationally, Google accounts for more than 70 per cent of the audience for web searches, according to research firm comScore.

The company’s growth rates are currently four to five times faster than rivals Yahoo and Microsoft.