Google Inc. (NDAQ:GOOG) reported in an 8K filing after-hours yesterday that they topped earnings estimates by $0.20, coming in at $2.62. The company impressed analysts with a net income that nearly doubled to $733.4 million while they reported that their foreign market share rose from 39% to 44%. These results suprised analysts as the stock traded up over 6% at open today.

The primary concern that investors had going into the quarter was the fact that Google was spending too much money without showing significant improvements in their bottom line. The numbers released yesterday relieved these concerns as well as some copyright infringement concerns that investors had concerning the acquisition of YouTube. The company noted that federal legislation protected the company so long as it made "good faith" efforts to remove material that infringed on intellectual property rights. All together, this release boded well for the company, as many investors are expecting Google to hit $500 before heading lower.

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