Google earnings story updated with executive comments from earnings call. NEW YORK ( TheStreet) -- Global economic uncertainty and concerns about an anti-trust investigation did little to hurt Google's ( GOOG) third-quarter earnings as the search giant blew past Wall Street estimates. Shares of Google leapt nearly 7% in response, running as high as $598.43, in Thursday's after-hours session with volume running above 1.4 million. Adjusted net income at Google increased to $3.18 billion, or $9.72 per share, for the September-ended quarter, well ahead of $2.46 billion, or $7.64 per share, during the same period last year.
Adjusted revenue -- excluding traffic acquisition costs -- jumped 37% to $7.51 billion. Analysts expected Google to post adjusted earnings of $8.74 per share on revenue of $7.2 billion. Google's strong earnings come as new CEO Larry Page is trying to diversify away from its core search advertising business into other areas such as display, mobile and social. Google's share of the display ad market is expected to grow to 9.3% from 8.6% in 2010, as competition heats up with Facebook and Yahoo! ( YHOO). The company has made an aggressive push into the mobile space through its acquisition of smartphone maker Motorola Mobility Holdings ( MMI) for $12.5 billion. Over 190 million of Google's Android-based phones have been activated globally, with its newest upgrade, Ice Cream Sandwich, set for release next week. The operating system is set to contribute $2.5 billion in mobile advertising revenue this year. "We see Android going gangbusters," Page said. Meanwhile, Google's Facebook rival, Google Plus, opened itself up to the public in September after limited testing and has surpassed 40 million users, according to Page. "People are flocking at an incredible rate and we're just getting started," Page said. Google's recently launched deals platform, Google Offers, is now offered in 11 cities, including New York, Denver, Austin and Boston. Page has also upped hiring at the firm, with the number of full-time employees increasing to over 31,350 compared to around 28,770 in June. This quarter in particular saw a surge in hiring as Google added a record number of university graduates. Some analysts have criticized Google for aggressively increasing spending through boosts in hiring and acquisitions. Operating expenses rose in the quarter to $3.28 billion, or 34% of revenue, compared to $2.19 billion, or 30% of revenue. -- Written by Olivia Oran in New York. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.