Google Up 11.5% In After-Hours Trading On Strong 2Q Earnings

The leading Internet search company says its 2Q net income of $2.5 billion is up 36.1% vs the same period last year on revenues of $9 billion, up 32%. Earnings, at $8.74 a share not counting employee stock costs, handily beat analyst expectations of $7.84. Most of the growth came from ad sales at Google-owned sites, including YouTube. CEO Larry Page didn’t say much about the financials in the announcement, apparently concluding it was more important to disclose that he’s “super excited about the amazing response to Google+”, the company’s new social-network service. The Street will be more interested in hearing about Google’s investment plans — and the status of the FTC inquiry into the company’s search and ad business practices.

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