Despite gloomy news surrounding its vulnerability to the weak economy, Google saw Q1 profits rise 31 percent over the same period in 2007, reports The Associated Press.

The increase brings Google's earnings to $1.31 billion in the first quarter of the year. For the first time, over half its earnings came from operations outside the US, following a change made to its online ad formula.

Total revenue for the quarter was up 42 percent, to $5.19 billion, from $3.66 billion last year. After paying its ad partners, revenues still sat pretty at $3.7 billion.

The news sent Google's waning stock price up 17 percent, or $76 dollars, in after market hours yesterday.

Google's virility in a soft economy was questioned by reports from comScore showing marked decreases in US ad clicks. The new numbers compelled comScore to publish a blog acknowledging its methodology does not account for non-US-based profit factors.

Google recently agreed to serve advertising on Yahoo's search engine for a limited time. Yahoo holds 20 percent of the US search market to Google's 60 percent, broadening the range of Google's ads — and opportunities for profit — significantly.

Yahoo is rumored to be pleased with the financial results of the test.