Google Inc. shares surged as much as 18% Friday, one day after the Internet-search company posted a 31% jump in first-quarter profit and dispelled many concerns about growth in its advertising business.In early trading, Google shares climbed $78 to $526.64 as investors threw their support behind the stock in the wake of Google's late-Thursday earnings report. Excluding special items, Google said that earnings for the period were $4.84 a share. Net revenue, or revenue minus payments made to other sites to acquire Internet traffic, came in at $3.7 billion. Analysts had estimated Google would post earnings excluding special items of $4.55 a share and net revenue of $3.61 billion, according to FactSet Research.
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