Google Shares Soar on Advertising Revenue and Cost Controls

Google (GOOG) had a big quarter and beat expectations for earnings.
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Google (GOOG) had a big quarter and beat expectations for earnings. Google shares are soaring as both advertising revenue increased and the company said it would work more to control costs, something Wall Street had been urging it to do. Google has also been amping up its mobile advertising efforts to address these challenges, touting new products such as a 'buy button' unveiled this week. Google touted strong performance on YouTube, with usage growing 60% over the second quarter of last year and on mobile, watch time has more than doubled. Google's new CFO Ruth Porat hinted that Google, which has never repurchased stock or paid a dividend, might distribute some of its cash to shareholders. Google shares have been stuck in a range for the past 18 months but with the strong earnings, several analysts have increased their price target on the shares.