Google's Inverstments pay off Fueling, Fueling ad volute Gains

Google Inc.’s strategy of stepping up investments to lure more users and advertisers is paying off, fueling ad volume gains in the latest quarter.

“The business is fine -- it’s humming along,” said Shyam Patil, an analyst at Wedbush Securities Inc. “It’s still a very strong solid, business. Nothing has changed and they have some very interesting growth drivers.”

Sales, minus revenue passed to partners, rose 14 percent to $13.9 billion in the first quarter, the company said in a statement Thursday. That compared with analysts’ average projection for $14 billion, according to estimates compiled by Bloomberg.

The shares of Mountain View, California-based Google rose to $577.50 in extended trading from $557.46 at the close in New York. The shares are up 5.1 percent this year.