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Google shares jump on increased profits
Google shares put on 7.5 % in after hours US trading for a near 12% intra day rise, as profit figures for the quarter to June came in at just short of US$ 4 billion, a 17% rise on the equivalent period a year ago. Advertising revenue was up by 11% to US$16 billion. Most economists expected a lower figure as the advertising cost to access Google through smartphones and tablets has been lower than by traditional means and has been a drag on their recent results. The US $400 billion company has also been paying attention to expenses, lower this quarter than Q1 at US$ 6.4 billion with an ongoing focus on costs likely to drive them lower still, quarter by quarter.
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Post Date: July 17th, 2015