Google Earnings Fall Short of Expectations
Shares of the giant Internet company are down 3 percent in after-hours trading
Google reported Wednesday that its quarterly revenue rose 20 percent to $16.5 billion, while per-share earnings fell to $4.09 compared with $4.38 in the same quarter last year.
The third-quarter results were short of the expectations of analysts, and shares of Google were trading 3 percent lower after the closing bell after having fallen 1 percent to $524.51 during the regular session.
The world's dominant Internet search engine said that while the number of paid clicks rose 17 percent year-over-year, the cost-per-click fell 2 percent.
The company said total advertising revenue rose 17 percent to $14.68 billion.
Google said its own sites generated $11.25 billion in revenue, up 20 percent, while its partner sites generated $3.43 billion, up 9 percent.
Google ended the quarter with 55,030 full-time employees, up from the 52,069 it had in the quarter that ended in June.