Sales and Profit Surge for Google

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Shares of Google Inc., the most-used Internet search engine, surged to new highs after the company’s fourth-quarter profit soared and sales topped $1 billion for the first time.


For the fourth-quarter ended Dec. 31, the company reported net income of $204.1 million (71 cents per diluted share), versus $27.3 million (10 cents per share) for the year-ago period. Sales doubled to $1.03 billion from $512.2 million.


Higher prices for advertising linked to search results helped Google generate increased profits. The company also kept a bigger slice of revenue from ads it distributes to other Internet sites.


The company’s earnings were released after the stock market closed Tuesday.


Shares of Google jumped 7.3 percent to settle at $205.96 by market close.

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