Agence France-PresseJuly 19, 2013 04:15
Google said Thursday its second-quarter profit rose 16 percent from a year ago, but its results fell far short of market expectations.
The Internet giant reported a profit of $3.23 billion, up from $2.79 billion a year ago. The adjusted earnings translated to $9.56 per share, far below Wall Street expectations of $10.78.
Revenues were up 19 percent to $14.11 billion, also below most analyst forecasts.
Google shares tumbled 4.1 percent in after-hours trade on the news, to $873.49, in a retreat from the Internet giant's record run toward the $1,000 level.