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Apr 18, 2014
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Google misses revenue target as ad rates slide
Google’s first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, underscoring the challenges internet companies face as the world shifts toward mobile devices.
Shares of Google were down 3% to $539.80 in after hours trading on Wednesday, after initially sliding roughly 6% on the news.
The number of “paid clicks” by consumers on Google’s ads increased by 26% in the first quarter, disappointing some analysts who had hoped for stronger volume growth. And the average “cost per click” declined 9%, extending a downward trend as mobile advertising, typically cheaper than traditional online ads, make up a bigger slice of its business.
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http://www.financialexpress.com
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