Google revenues increased 23 percent during the third quarter to $7.29 billion, while profit landed at $2.17 billion, a 32 percent increase, the company announced Thursday.

Revenue jumped from $5.94 billion in the third quarter of 2009 to $7.29 billion, Google said. Last quarter, Google reported revenue of $6.82 billion.

Profit, meanwhile, was up from $1.64 billion last year to $2.17 billion. It also increased from last quarter, when Google earned $1.84 billion.

Google Sites were responsible for 67 percent of revenue, taking in $4.83 billion in revenue, a 22 percent increase from the same time period last year.

On the same day that Yahoo criticized Google Instant market share calculations, Jonathan Rosenberg, senior vice president of product management at Google, said the company will release Google Instant for mobile "relatively soon," most likely sometime in the fall.

Rosenberg touted the company's new product, which displays search results as a user is typing.

People have "speculated that we launched Instant to make more money," Rosenberg said, but "that's simply not the case." Google introduced Instant because "it's so much better for the user." Google Instant has had a "minimal" impact on revenue, Rosenberg said, whereas "from a resource standpoint, it's actually pretty expensive."

"From a user standpoint, Instant is outstanding, and the data we're seeing bears this out," he continued. On average, Google Instant saves three to five seconds per search, and usage is "steadily growing."

"Google Instant wasn't based on a narrow financial calculation," Rosenberg said. "We launched it because we could and it's good for our users."

Google also said that its mobile search queries have grown five times over the past few years, and people accessing products and services through mobile phones are adding $1 billion annually to Google's existing revenue streams, Rosenberg said.

Google chief executive Eric Schmidt joined the call during the Q&A session. He said that Google hopes that Android will become the leading mobile platform in years to come. When asked about competing Android marketplaces - Amazon is reportedly prepping one of its own, for example - Schmidt said that the stores are really for the developers, not Google.

"The goal of the stores is to make money for people who are writing the software and the apps, and it's not a revenue goal for Google," Schmidt said. "There certainly will be multiple stores; certainly the key one for us [is the Android Market], and we think it's a net win for everybody. It's really for the developers."

Also on mobile, Rosenberg did not see mobile search cannibalizing Web search, but as a complementary service. Search patterns differ; people tend to use mobile more during the lunch hour, at night, and on holidays, for example. Mobile and Web search are growing, so "it appear to us as complimentary and not cannibalizing each other."

Google added 1,526 employees since June 2010 - 300 of which were from acquisitions - for a total of 23,331.