Things have been pretty rosy for Google for the last financial quarter despite the economic slowdown.

The company has announced its financial results for the quarter ended 30 September and enjoyed revenues of $5.54 billion.

What's encouraging is that this was an increase of 31% compared to the third quarter of 2007 and an increase of 3% compared to the second quarter of 2008.

Of this, Google-owned websites generated revenues of $3.67 billion, or 67% of the total revenues, which was a 34% increase over third quarter 2007.

Splitting the winnings down to countries, Google also stated that revenues from the UK totalled $776 million, representing 14% of its total revenue for Q3 2008.

"We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business", said Eric Schmidt, CEO of Google.

"While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display."