Google quarterly net profit up 37 percent

Google said Thursday that its first quarter net profit rose by more than 37 percent while revenue increased by 23 percent to 6.8 billion dollars.

The Mountain View, California-based Internet search and advertising giant said net profit in the quarter which ended on March 31 was 1.96 billion dollars compared to 1.42 billion dollars in the same quarter a year ago. Google chief financial officer Patrick Pichette said revenue growth was “driven by strength across all major verticals and geographies.”

“Going forward, we remain committed to heavy investment in innovation — both to spur future growth in our core and emerging businesses as well as to help build the future of the open Web,” Pichette said in a statement.

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