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Google Shares Rocket Adding £38bn To Value

(c) Sky News 2015

Shares (Frankfurt: DI6.F - news) in Google (Xetra: A0B7FY - news) have rocketed by 16% - adding $60bn (£38bn) to its market value in one day.

The shares rose as investors cheered profits revealing strong advertising growth on mobiles and its YouTube arm.

The rises mean the company is now worth more than $400bn (£256bn).

Only Apple is worth more - at $745bn (£477bn).

On Thursday, Google reported that second-quarter net income was $3.93bn (£2.51bn) in the three months to the end of June.

That is up from $3.35bn (£2.15bn) for the quarter a year earlier.

The results ended six consecutive quarters in which the search engine's earnings fell short of analysts' targets.