The Internet search giant Google has reported a better-than-expected rise in profits and revenues for the third quarter, providing proof that online economy is reviving.

Google said its revenue beat analyst’s expectations by rising 7 per cent to $5.94 billion from $5.54 billion during the same period previous year.

Google earned $5.13 per share as compared with $4.06 per share last year.

Company’s net income soared to $1.64 billion from $1.29 billion during the same period previous year.

Robust revenues pushed the Google’s optimism up. The Internet search giant said that it couls go for major acquisitions.

Eric Schmidt, chief executive of Google, said, “We're open for business in making strategic acquisitions, both large and small.”

On Thursday in the after hour trading, shares in Google jumped 3.2 per cent to $547 on the Nasdaq stock exchange.