Google quarterly results disappoint

• Google Inc on 31st January reported disappointing quarterly results on rising capital spending and costs for acquiring advertising customers, unnerving investors who sent its shares down 6.5 per cent. Revenue rose 51 per cent to $4.827 billion, just shy of the $4.83 billion.
• It was only the third time in 14 quarters as a public company that Google failed to top Wall Street profit forecasts. But Google executives underscored their belief that there were no signs that a weakening US economy so far was hurting its own results and that they expect advertisers to maintain spending with Google even if they slash overall ad budgets.
• Immediately following the results, the stock fell to around $510, down 9.5 per cent. The stock fell 24 per cent in January. A 2007 darling among technology stocks, it has fallen from near $750 in November, when analysts raced to boost price targets as high as $900.