Google Reports Q2 Gain

Google (Nasdaq: GOOG)'s net income rose $2.51 billion in the second quarter on net revenues of $6.92 billion as the company profited on the strength of its advertising, search and mobile businesses. (See Google Reports Q2).

Google CEO Larry Page also notes in the release he is "super excited about the amazing response to Google+," the company's new social networking site. (See Google + Mobile = Winning Combo.)

The company gained $7.68 a share, ahead of $5.71 a year ago.

Analysts polled by Thomson Reuters expected a profit of $7.85 per share on revenues of $6.55 billion.

Shares of Google were up about $48 (10 percent) to $584 each in after-hours trading.

— Sarah Reedy, Senior Reporter, Light Reading Mobile