SHARES in search engine powerhouse Google dipped after earnings rose by less than expected.
Google lifted earnings by 6% to £1.75bn in the final quarter of 2011 after a surprising fall in the prices that it collects for each click.
Even though Google’s revenues passed £6.5bn for the first time in any three-month period in its 13-year history, its shares on Wall Street plunged by 9% – wiping billions of dollars from its market value.
Results from Microsoft, Intel and IBM were better received by investors.
Microsoft posted flat earnings of £4.3bn in the quarter after seeing strong business demand for software and services and decent sales for Xbox.
Chipmaker Intel lifted earnings by 6% to £2.2bn while IBM profits were up by 4% at £3.6bn.