Google Shoots Higher (Update)

SAN FRANCISCO -- Investors renewed their love affair with Google(GOOG Quote) after it handily topped Wall Street estimates in the third quarter and undercut arguments that it would bow to economic pressure.

The stock had spent the day in the dumps as investors agonized over whether Google would blow its quarter. But in after-hours trading, shares rocketed 10.5% to $389.91.

The Internet giant reported a profit of $1.35 billion, or $4.24 a share, in the third quarter. Excluding certain items, it earned $1.56 billion, or $4.92 a share. That was well above Wall Street's estimates of $4.80 a share. ...