Google‘s earnings climbed 36% despite a deepening slump in its average ad prices as more people connect to its search engine and other services on mobile devices.
The results released Thursday exceeded the analyst projections that steer investors. Google’s stock surged 6% to $943.90 after the numbers came out.
Google earned nearly $3 billion, or $8.75 per share, during the three months ending in September. That compared to income of $2.2 billion, or $6.53 per share, at the same time last year.
The Mountain View, Calif. company’s average ad price has declined from the prior year in each of the last eight quarters primarily because advertisers aren’t yet paying as much for mobile ads.
Revenue rose 12% from last year to $14.9 billion.
