Again, Google earnings beat expectations

SAN FRANCISCO — Google’s second-quarter profit more than doubled, maintaining the Internet search leader’s penchant for topping analysts’ high expectations and further underscoring the advantage the company has built over its chief rivals.

The Mountain View, Calif.-based company said Thursday that it earned $721.1 million, or $2.33 per share, during the three months ended in June. That compared with net income of $342.8 million, or $1.19 per share, at the same time last year.

Excluding expenses for employee stock compensation and several other one-time items, Google said it would have earned $2.49 per share — soaring past the average estimate of $2.22 per share among 32 analysts surveyed by Thomson Financial.

It marks the seventh time in eight quarters as a public company that Google has surprised Wall Street with higher-than-expected earnings.

Revenue for the period totaled $2.46 billion, a 77 percent increase from $1.38 billion a year ago.

Google’s revenue fell to $1.67 billion after subtracting commissions paid to its partners in the Internet’s largest advertising network. That figure also topped the average analyst estimate, according to Thomson Financial.