Overall revenue is forecast to come in at $17.7 billion, according to FactSet, which would mark a year-over-year improvement of 2.3%.

On average, 41 analysts polled by Thomson Reuters estimated earnings of $6.71 per share for the quarter. “The company is seeing mobile search growth but the mobile market is different than the PC search market and harder to monetize”.

Google shares rose as high as $683.65 in extended trading after the report. The stock gained 3.1 per cent to $US601.78 at the close in New York, and has soared 11 per cent since the start of July. She expressed that the company has a breadth of opportunity, but pursuing growth is not inconsistent with expense management.

Google reported Thursday the aggregate cost per click (CPC) across its network fell 11% in the second quarter of 2015, but was offset by the increase in ad volume.

Porat, a Silicon Valley native with a storied Wall Street career, has been widely expected to rein in costs of a company that sometimes resembles a research university, with peripheral ventures ranging from glucose-monitoring contact lenses to self-driving cars. That 40-minute metric, known as “watch time”, was up a heady 60 percent year over year and trumped a slide in the AdSense program on search, which Google executives said illustrates a continuing corporate policy. She joined Google from Morgan Stanley in May. Google stock jumped after the company announced the results.

Google total advertising revenues rose 11 percent to Dollars 16.023 billion, led by 13 percent growth on its own sites. Porat has bolstered investor confidence that the company will balance spending on such initiatives with the need to keep a tighter rein on expenses.

“I think absolutely this is just the beginning of what could be a very good move for Google”, said Colin Gillis, a technology analyst at BGC Partners, on CNBC’s “Closing Bell.” .

The pleasant surprise ended a streak of six consecutive quarters in which Google’s earnings missed the analyst estimates that steer investors’ perceptions about publicly held companies.

Excluding currency fluctuations, revenue rose 18% from a year earlier, compared with 17% growth in the first quarter.

This is Google’s first quarter with its new CFO, Ruth Porat, at the helm. But Google might be making new strides in mobile.

“We’ve been largely focused on the digital world, but in the back of our minds we… always knew digital influenced people before they went to shop-in store”, Spero said.

Porat seemed to agree with that point Thursday, noting that numerous expense reductions were implemented before she was hired. “It has also been impacted by mobile disruption – there are now more mobile search queries than desktop queries”, Sterling said.