Google reported a 16% rise in profits in the first quarter of 2013 along with revenue growth in its core advertising business.

Google’s net profit reached $3.35 billion (£2.19 billion) in the first three months of the year, driven by income from online advertising.

Overall revenues were boosted to nearly $14 billion in Q1 – up $10.7 billion year-on-year.

Following the release of the latest report, the tech giant’s stock increased by $7.05 (nearly 1%) to $772.96 in extended trading. ...