Google profit soars, stock up 6 percent

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Google profit soars, stock up 6 percent

Web search leader Google on Thursday posted a quarterly profit nearly six times higher than a year earlier, blowing past Wall Street targets as search advertising continued to grow at a rapid clip.

Google net income rose to $369.2 million, or $1.29 a share, in the first quarter, from $64.0 million, or 24 cents a share, a year earlier. Results from the most recent quarter included a $49 million charge related to stock-based compensation. Total revenue rose to $1.26 billion from $651.6 million.

Read the complete story. (Yahoo, reuters)