Google profits up 36 per cent

Google's profit grew roughly 36 per cent in the second quarter, even as spending at the Internet search leader continued to rise…

Google's profit grew roughly 36 per cent in the second quarter, even as spending at the Internet search leader continued to rise.

The firm's shares were up 11.7 per cent at $590.96 in after-hours trading following publication of its results.

Google posted net revenue, which excludes fees paid to partner websites, of $6.92 billion in the second quarter, compared with $5.09 billion in the year-ago period.

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.

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The company's operating expenses were up 49 per cent year-on-year at $2.97 billion.

Reuters