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Google posts 30% higher profits, misses revenue expectations

  • Google has posted a fourth quarterly profit of $4.76 billion, an increase of almost 30% from last year, but its revenue was below expectations.

    The internet giant’s revenue was up by 15% to $18 billion, media reports said.

    According to the company, the revenue was hit to some extent by unfavorable foreign exchange rates.

    Meanwhile, Google’s cost-per-click has dropped 3% in the quarter, which indicates that it has not been able to increase the price it charges for mobile ads.

    Tagged as: Google, quarterly profit, revenues, internet giant, cost-per-click, mobile ads, business news