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Google sales growth worse than expected

January 24, 2012 By: Dr Search Principal Consultant at the Search Clinic Category: Ecommerce, Google, Pay Per Click, search engines, Technology Companies, Uncategorized

Google reported a 27% increase in revenues for the last three months of 2011, but even that was not good enough to meet Wall Street estimates, sending the shares tumbling.Google sales growth worse than expectedGoogle shares fell 10% in after hours trading to £370 ($575) .

It reported 3 month revenues of £6.8 billion ($10.6billion) and its net profit rose 6.4% to £1.74 billion ($2.7 billion).

“Google had a really strong quarter ending a great year,” said chief executive Larry Page.

“I am super excited about the growth of Android, Gmail, and Google+, which now has 90 million users globally – well over double what I announced just three months ago.”

But analysts were less impressed with Google’s figures.

Expectations were very high and Google have missed thier estimates.

The number of clicks on Google’s AdWords Pay Per Click networks rose significantly in the fourth quarter, but the amount that Google was able to charge advertisers for each click fell 8%.

For the full year, Google reported a 29% rise in revenue to £24.45 billion ($37.9 billion), with net profits up 14% to £6.25 billion ($9.7 billion).

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