SAN FRANCISCO – Google Inc leapt past Wall Street’s profit and revenue expectations in the second quarter, even as spending by the Internet giant continued to rise.
Shares of Google were up 12.3 percent at $594.50 in after-market trading on Thursday.
Google said its net income in the second quarter was $2.51 billion, or $7.68 a share, up from $1.84 billion, or $5.71 a share, in the year-ago period.
Excluding certain items, Google said it earned $8.74 a share, ahead of the average analyst expectation of $7.85 a share.
Net revenue, which excludes fees paid to partner websites, jumped 36 percent year-on-year to $6.92 billion, ahead of the $6.55 billion expected by analysts polled by Thomson Reuters I/B/E/S.
The company’s operating expenses were up 49 percent year-on-year at $2.97 billion.