{"id":57233,"date":"2014-10-17T05:42:45","date_gmt":"2014-10-17T05:42:45","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=57233"},"modified":"2014-10-16T21:44:07","modified_gmt":"2014-10-16T21:44:07","slug":"google-earnings-miss-expectations","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/10\/google-earnings-miss-expectations\/","title":{"rendered":"Google earnings miss expectations"},"content":{"rendered":"
Google has reported third-quarter profits of $2.8bn (\u00a31.7bn), down 5% from the same period a year earlier.<\/p>\n
That sent shares in the internet giant down over 3% in after-hours trading.<\/p>\n
A closely-watched figure – the average cost-per-click that Google – decreased by 2%.<\/p>\n
The company also missed analyst expectations for revenue, which increased by 20% to $16.52bn for the period, which was for the three months ending on 30 September 2014.<\/p>\n
“We continue to be excited about the growth in our advertising and emerging businesses,” said Google chief financial officer Patrick Pichettein a statem<\/a>ent<\/a>\u00a0accompanying the earnings statement.<\/p>\n Google’s profits were also hit by increasing costs of real estate, such as data centres, and hardware inventory costs, which increased by 37% to $3.35bn from the same period a year earlier.<\/p>\n Although Google makes the majority of its revenue from the advertising it places on its search site and others, the technology giant has been looking to expand its offerings.<\/p>\n