SAN FRANCISCO—Google Inc, the world's top Internet company, Thursday reported a weaker-than-expected 17 percent rise in quarterly profit, disappointing investors hungry for more and sending its shares down 9.5 percent.
Net income for the fourth quarter rose to $1.21 billion, or $3.79 per diluted share, from $1.03 billion, or $3.29 per diluted share, in the year-earlier quarter. Revenue rose to $4.827 billion from $3.21 billion in the final quarter of 2006.
Analysts had forecast a net profit, on average, of $3.89 per share, according to Reuters Estimates. Excluding one-time items and stock compensation, Wall Street was looking for a profit, on average, of $4.47 per share.
Revenue, on average, was projected by analysts to total $4.83 billion, in a range of $4.67 billion to $5.10 billion.
This is the fourth time in four years that Google has failed to meet profit projections.
Google still controls 75% of the online search market.
With additional reporting by James Fish, The Epoch Times
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