Google posted quarterly sales and profit that trumped Wall Street expectations Thursday, boosted by a rebounding advertising market. The search giant's net income was $1.96 billion, or $6.06 per share, in the first quarter, up 38 percent $1.42 billion from the same period last year.

Excluding one-time charges, the Mountain View, Calif.-based company earned $2.18 billion in the first quarter, or $6.76 per share, up from $1.64 billion a year earlier. That easily beat analysts expectations, which called for earnings of $6.60 per share.

Google's revenue surged 23 percent to $6.77 billion. Excluding traffic acquisition costs, which are the advertising sales that Google shares with partners, the company reported sales of $5.06 billion, beating the $4.95 billion in revenue expected by analysts.

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