Google’s third-quarter profit soars to record level as revenue growth accelerates

Google’s growth accelerates as 3Q profit rises

MOUNTAIN VIEW, Calif. — Google has posted third-quarter results indicating the Internet advertising market is bouncing back after being knocked down by the recession.

The figures released Thursday were highlighted by a $1.64 billion profit. That’s the most money that the Mountain View, Calif.-based company has made during any three-month period in its 11-year history. Google earned $1.29 billion at the same time last year.

Revenue for the three months ending in September climbed 7 percent to $5.94 billion. That’s Internet search leaders fastest growth rate so far this year.

Both the earnings and revenue topped analyst estimates.

Google is considered a a good barometer for the state of Internet commerce because its search engine serves as the hub of the Web’s largest adverting network.