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Google misses 4Q net income and revenue expectations

MOUNTAIN VIEW, Calif. – MOUNTAIN VIEW, Calif. (AP) _ Google Inc. (GOOGL) on Thursday reported fourth-quarter net income of $4.76 billion.

On a per-share basis, the Mountain View, California-based company said it had profit of $6.91. Earnings, adjusted to account for discontinued operations, came to $6.88 per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $7.13 per share.

The Internet search leader posted revenue of $18.1 billion in the period. After subtracting Google’s advertising commissions, revenue was $14.48 billion, which also missed Street forecasts. Analysts expected $14.83 billion, according to Zacks.

Google shares have fallen slightly more than 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has fallen nearly 2 per cent. In the final minutes of trading on Thursday, shares hit $513.23, a fall of slightly more than 7 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOOGL at http://www.zacks.com/ap/GOOGL

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Keywords: Google, Earnings Report, Priority Earnings