Google's Internet revenue grew 23% in Q1

(REUTERS) - Google Inc's core Internet business grew net revenue 23 per cent in the first quarter to $9.99 billion (S$12.34 billion) as the company's search advertising business continued to show strength.

Shares of Google, which reached an all-time high of $844 in March, were up 2 per cent to $783.08 in after hours trading on Thursday.

Google's overall first quarter net income, including its money-losing Motorola Mobility mobile phone business, was $3.35 billion, or $9.94 per share.

That compares to net income of $2.89 billion, or $8.75 per share in the year-ago period, before Google acquired Motorola.

Google said it had consolidated revenue in the first quarter of $13.97 billion, versus $10.65 billion in the year-ago period.

The company's main Internet business generated $9.99 billion in first-quarter net revenue, which excludes fees paid to partner websites, compared to $8.14 billion in the first quarter of 2012.