Google posts 17% rise in quarterly profits

Quarterly profits of search giant Google increased by 17% to $3.93 billion compared to last year thanks to an 11% boost in revenues, which touched $17.7 billion in the three months to June. The tech firm’s ad revenues also rose 11% to $16 billion.

Though the average price of online ads dropped in the quarter, the rise in ad volumes made up for it. 

Advertising rates on smartphones and other hand-held devices are generally lower, putting pressure on the company's ad revenue. 

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