In response to questions about the European Commission’s (EC) accusations that Google is manipulating search results to favour its own services, Porat said it would work with the EC to address any concerns.

Google’s stock jumped more than 7 percent in the after-market hours on Thursday, after the company reported strong earnings results for the second quarter.

The tech and internet giant revealed its Q2 2015 financial report on July 16, 2015, and cited YouTube’s growth and mobile advertising as key factors in its $17.7 billion revenue.

Google has tried to attract more users to its ads on mobile by adding more information and functionality to them, like product ratings and store inventory information.

At least 27 brokerages raised their price targets on Google’s stock by as much as US$150 to as high as US$800, with analysts also welcoming new chief financial officer Ruth Porat’s emphasis on disciplined spending.

Google has posted an impressive set of results for its second quarter, with revenue up 11 percent and profit up 17 percent, aided by mobile search and YouTube growth.

Google continues to dominate when it comes to online search-related advertising, with its share of the market this year expected to be 54.5 percent, according to the industry tracker.

More 18- to 49-year-olds in the United States now “tune into” YouTube than any cable network, Google executives said in an earnings call with investors today (June 16).

In this quarter Google’s operating expenses climbed at its slowest speed since 2013.

Google’s ads prices, calculated in cost per click, dropped 11 percent as compared to previous year. CFO Ruth Porat cited “significant growth in YouTube revenues” and the benefits of TrueView, a type of video advertisement in which advertisers pay when viewers choose to watch an advertisement, not when an advertisement is viewed.

Revenues for Google websites also increased during the period. It remained at 73% of revenue during that time, said the company said on Thursday.

Porat said she was pleased with the numbers that came in for the latest quarter, the article continued. Watch time via this channel has more than doubled year-on-year.

The company has been grappling with falling ad prices as consumers shift to devices like smartphones and tablets, which fetch lower rates.