Google Inc. stock surged nearly 8 percent on Friday, a day after the company reported almost a doubling of profits in the third quarter.
At the end of regular trading on the Nasdaq stock exchange, Google was up $33.61, or 7.89 percent, to $459.67 a share.
The Mountain View, Calif., company on Thursday reported that profits soared to $733 million in the quarter ended Sept. 30 from $381 million during the same period a year ago. Revenues jumped 70 percent to $2.69 billion.
The results reflected Google's success at increasing online ad revenues from its own properties, as opposed to relying on sites that comprise its AdSense partner network. Revenues from Google-owned sites were up 84 percent year over year to $1.63 billion. Revenues from partner sites increased 54 percent to $1.04 billion.