Google’s shares jumped almost 12% after the search engine giant’s profit surpassed the analysts’ forecasts for the first time in the last six quarters. The surge in Google’s profit is the result of boost in strong advertising revenue and its new chief financial officer’s announcement to bring more restraint to spending.

After closing at $601.78 on Nasdaq, Google rallied to $673.50 in extended trading. If Google manages to close at that level on Friday, the web search leader will record an all-time high for the stock in regular trading. It will add nearly $40 billion to its market value.

Google follows Apple in the list of the most valuable publicly traded US company. Rise of expenses for Google in the second quarter ended June 30 from the year-ago quarter accounted for 10% to $12.9 billion. It remained at 73% of revenue during that time, said the company said on Thursday.

However, the expenses saw growth by only $91 million from the first quarter. “The decline in quarter-over-quarter operating expenses reflects, in part, discipline in expense management and, in part, lower legal expenses than in comparable periods”, CFO Ruth Porat told analysts on a conference call.

Advertising revenue jumped 11% to $16.02 billion from the year-ago quarter. Google receives payments from advertisers based on number of user clicks on one of its ads. Cost per click, or the average price of online ads, declined 11%, but increase in ad volumes largely compensated for the loss from the decline.