Google shares plunge after results miss estimates
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Google saw its stock fall in after-hours trading Wednesday after the world's largest Internet search provider said its revenue rose 19% but fell short of Wall Street expectations.
Shares of Google plummeted nearly 6% after the market closed, dropping to $524.33; before the close of trading Wednesday, Google shares had gained 3.75% to $556.54, ahead of the results.
First-quarter revenue to $15.4 billion, up from $12.95 billion in the first quarter of 2013. Profit came in at $6.27 per share, compared to $6.00 a share in the same period last year. Google was expected to make a profit of $6.40.
'We completed another great quarter,' said Larry Page, CEO of Google. 'We got lots of product improvements done, especially on mobile. I'm also excited with progress on our emerging businesses.'
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