Google Shares Hit New High

Earnings beat expectations

Google shares hit a new high in after-hours trading Thursday after the Internet giant's earnings blew past expectations as its advertising business expanded.

Google shares, which are up around 24 percent this year, rose more than 5 percent in after-hours trading, topping $948 a share. The previous high was $924.30, set on July 15. (Click here for the latest after-hours quote.)

"They were able to grow their revenue pretty substantially, particularly in their own websites, in spite of having lower overall ad prices," said JMP Securities analyst Ronald Josey.