Google Inc.'s net income in the fourth quarter of 2008 was down 70 percent from the same time in 2007, from US$1.2 billion to $382 million, paidContent reported. However, despite the fall, the earnings still beat analysts' expectations.

Revenues for the quarter were $5.7 billion, up 18 percent from the fourth quarter in 2007.

Revenues from Google Sites added up to $3.81 billion, or 67 percent of revenues for the fourth quarter. Google Network revenues, such as programs like AdSense, made up about 30 percent of revenues, at $1.69 billion. Meanwhile, revenues from outside the United States added up to $2.86 billion, paidContent reported.

The Sacramento Business Journal reported that Google's 2008 profits were at $4.2 billion, even on sales of $21.8 billion, $16.6 billion more than in 2007.

Meanwhile on Friday, technology stocks traded higher at the end of the day mainly due to a rise in Google shares, which were up 6 percent, to close at $324.70, MarketWatch reported.