During the 3Q of the 2008, Google minted $1.35bn and beaten the analysts expectations quite easily.

The company said in an announcement that its earning had strongly grown and it’s mainly due to company’s online search and advertising businesses.

There was a 31% ($5.54bn) increase in Google’s quarterly revenue that also includes commissions to associated advertisers.

Google announced the results after Wall Street closing on Thursday. The company stated that it would further improve its core businesses and also made some more investment in future areas of growth.

The figures were welcomed by many analysts, as Colin Gillis, an analyst at Canaccord Adams, said: “It shows how much powerful the model-paid search is and it has, indeed, become the best form of media advertising out there

Eric Schmidt, Google’s chief executive says: “ I accept that reality that even Google is most profitable company of the internet, but it may not be immune to escape from the financial crisis.

“Though we have a realistic approach about the poor state of the worldwide economy, we will mange the company in the same manner for the long run.”

Google managers believe that their company will thrive even in the slowing economy.

After closing at $17.97, the shares rose to $ 1.09 (6.1 percent) as $18.90 in aftermarket electronic trading.
The specialty apparel maker company, which operates with Victoria’s Secret and Bath & Body, announced that its profit for the second quarter ended Aug.2 dropped 30 cents per share or 61 percent to $ 102 million.

The profit during the last year for the same period was 67 cents per share or $264.4 million.

The company’s revenue dropped 13 percent from $2.62 billion to $2.28 billion.

Analysts polled by Thomson Reuters was indicating more decrease in profit but the tight management of inventory and expenses by the company helped to beat the expectations.

Leslie Wexner, who is chairman and chief executive of the company, said in a statement, “It is expected that retail environment will remain challenging in the coming days, but we will manage the financial aspects of the company accordingly.”

The company expects $1.45 ($1.60/share) earnings for the year excluding one-time items. On the other hands, analysts expect it $ 1.48/share.

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The operator of luxury goods retailer also predicted lackluster in activity during the rest of the year.

In premarket trading, Saks shares tumbled around 14 percent, dropping $1.57 to $9.65.

According to Saks, it had to bear 23 cents per share or $ 31.7 million loss during the second quarter that ended on Aug. 2. For the same period a year back, the net loss was reported 17 cents per share or $ 24.6 million as net loss. The retailer revenue dropped 3.5 percent to $669.2 million.

Thomson Reuters tells that the surveys were suggesting a smaller loss of 19 cents per share on the high proceeds of $679.2 million.

Saks says that it expects the store’s operating margins would decline to 2007 levels. However, some items have exclusion from it. The store is also expecting similar sort of sales for the rest of the year: down and unchanged.

Saks’ chairman and chief executive, Stephen I. Sadove states, “We are quite well aware of it that we are continuously facing the headwinds of the retail and economic inactive environment.”

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