The Mountain View, California based search engine giant Google Inc reported a 26% jump in it's quarterly profit amid growing economic uncertainty worldwide.

Google reported net income for the third quarter of $1.35 billion, up 26% from $1.07 billion a year ago. The same period company reported revenue of $5.54 billion, an increase of 31% from $4.23 billion a year ago.

However Google Chairman Eric Schmidt warned that company is not immune to the spreading economic crisis.

"While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term," Schmidt said.

Google shares gained 7% after it announced a better than expected results and helped Dow Jones to recover more than 700 points from it's day's low on Thursday.