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Google shares fall after company misses Q1 profit estimates

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ANI Washington
Last Updated : Apr 17 2014 | 11:26 AM IST

Google's shares dropped nearly six percent in after-hours trading after the tech company's first-quarter profit missed analysts' expectations.

Google logged weaker-than-expected first-quarter results, as the company missed forecasts on two key search advertising metrics.

According to Fox News, shares of the company behind Gmail and Android dropped six percent in after-hours trading after reporting below-consensus figures.

Google said it earned 3.45 billion dollars, or 5.04 dollars a share, last quarter, compared with a profit of 3.35 billion dollars, or 4.97 dollars a share, a year earlier.

Excluding one-time items, the company earned 6.27 dollars a share, missing the Street's expectation of 6.41 dollars.

Revenue increased 19 percent to 15.42 billion dollars, narrowly trailing consensus calls from analysts for 15.54 billion dollars, the report added.

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First Published: Apr 17 2014 | 11:09 AM IST

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