Google's Second-Quarter Financial Report Impresses Wall Street

Advertisers paid Google 16 percent less for each click in the second quarter than in the same frame a year ago, but the search giant made it up in volume -- with 42 percent more paid clicks -- so it reported earnings that bested the expectations of analysts on Thursday.

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Google said it earned $2.8 billion, up 11 percent over last year, including a $560 million charge mostly related to the purchase of Motorola Mobility. Without that, the company would have earned $10.12 per share, about 8 cents better than what analysts had projected.

Revenue rose 35 percent in the quarter to $12.2 billion.

Google shares rose 2 percent Thursday to $593.06 and were up another 3 percent after the closing bell.

The company ended the quarter with 54,604 full-time employees, 34,311 coming from the Google side and 20,293 from Motorola. Last year, prior to its purchase of Motorola, Google employed 33,077 people full time.

Google said Motorola's revenue alone was $1.25 billion.