Google said Thursday that it earned $10.74 cents per share on an adjusted basis in the most recent quarter, besting the expectations of analysts by 40 cents. Without adjustments, net income was $3 billion, up fro $2.2 billion a year ago.
Revenue for the Internet search giant rose 12 percent to $14.89 billion, about $100 million more than analysts had expected. Revenue after traffic-acquisition costs was $11.92 billion, better than the $11.64 billion expected by analysts.
Google shares, which were down 1 percent to $888.65 during the regular session, jumped nearly $70 during after-hours trading. If the gain survives, Google could open at an all-time high Friday with a market capitalization eclipsing the $300 billion mark.
Google's impressive third-quarter results came despite rising losses at its Motorola mobile phone unit. Google said Motorola's loss in the quarter was $248 million, up from a $192 million loss in the same quarter a year ago.
One worrisome trend was an 8 percent decrease in cost-per-click, which is the amount Google gets when users click on ads, but Google more than made up for it with a 26 percent increase in paid clicks.
On a conference call to discuss earnings, CEO Larry Page told analysts that 40 percent of the traffic at Google's YouTube now comes from mobile users, up from 6 percent just two years ago.
Page, who has been struggling with paralysis of a vocal chord, told analysts Thursday that he would not be participating in all of the upcoming earnings calls going forward because he needs to prioritize his time.
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