Google shares powered up 12.6 percent in opening trade Friday following a strong earnings report, boosting the Nasdaq to new record levels.

Five minutes into trade, the tech-rich Nasdaq Composite Index was at 5,189.79, up 26.61 points (0.52 percent) from Thursday's record close.

The Dow Jones Industrial Average fell 63.33 (0.35 percent) to 18,056.92, while the broad-based S&P 500 slipped 1.27 (0.06 percent) to 2,123.02.

Google's second-quarter earnings climbed two percent to $3.4 billion on an 11 percent rise in revenue to $17.7 billion, helped by strong growth in advertising on mobile platforms.

The surge lifted Google's market capitalization to around $450 billion, second only to Apple.