Google has announced even better than expected third quarter results.

The online company increased its profits by 45% to $1.07bn and sales by 57% to $4.23bn, success attributed to its continuing search dominance and growth in international markets.

Google's CEO, Eric Schmidt, said, Google's search advertising business had experienced "continued momentum driven by growth in monetisation and traffic".

And: "Our efforts to offer more products and services in international markets as well as effectively grow our technology infrastructure and add to our deep talent base during the quarter helped to deliver growth by enabling Google to reach more users around the world".

Google's share price rose to just under $640 after the results were announced leading to renewed speculation that it might soon hit the $700 milestone in the near future.