Summary Box: Google disappoints Wall Street but gives evidence of rebounding Web ad market
By APThursday, April 15, 2010
Summary Box: Google profit jumps; stock slides
THRIVING AGAIN: First-quarter net income at Google Inc. jumped 37 percent. And revenue climbed 23 percent — Google’s greatest growth since the third quarter of 2008.
THE DOWNSIDE: Investors appeared to worry that the strengthening economy may make Google less careful with its expenditures than it was during the recession. The company’s shares plunged in extended trading.
THE QUOTE: “We are continuing to invest heavily in people, products and acquisitions,” Chief Financial Officer Patrick Pichette told analysts.
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