Google's first-quarter profits six times higher than last year

Google keeps surprising us by reporting first-quarter profits nearly six times as high as the same period last year. The company's net income rose to $369.2 million ($1.29 per share) compared to $64 million (24 cents per share) in 2004.

Google's total revenue increased from $651.6 million to $1.26 billion, which is a lot higher than Wall Street's prediction of $1.16 billion and earnings of 78 cents per share.

Google's shares jumped 6 percent in after-hours trading to more than $216.

More details about Google's Q1 2005 revenue at CNN