Google profit disappoints

Google’s quarterly profit came in weaker than analysts had predicted, the first time that has happened in two years.

Higher expenses offset a 24 percent increase in revenue.

The internet search engine’s shares fell on worries about rising costs.

It has been spending heavily on research and development and hired aggressively to expand into new products and markets in order to maintain the level of growth that the market expects.

Google’s bosses have pledged to continue to invest in new businesses to drive long-term growth.

Copyright © 2013 euronews