NEW YORK (CNNMoney.com) -- Shares of Google opened up 10% Friday morning, and came within striking distance of $600 for the first time in more than nine months, after the company posted solid quarterly earnings that impressed investors.

Google's (GOOG, Fortune 500) stock rose as much as $58.42 to $599.35 a share in early morning trading, before sliding back a bit. It was the stock's highest level since January.
Late Thursday, Google reported a third-quarter profit that rose 32% on the back of stronger search ad fees from advertisers. But the company's results were also buoyed by its non-core businesses, like YouTube, display advertising and mobile.
Google defied skeptical investors and analysts who feared that the search giant would never find a a significant new revenue stream besides search advertisements. In the past, the company has been tight-lipped about the financial details of its non-search businesses, leading some analysts to speculate that those product lines were insignificant to the company's overall revenue.
But on Thursday, Google demonstrated how it is building new, multi-billion dollar businesses.