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Google shares drop despite a hike in profits

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Google shares drop despite a hike in profits

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Even a first-quarter profit rise of 3% has not impressed the markets with Google shares dropping 5%.

Investors are concerned with Google’s inability to maintain advertising prices.

Although the number of “paid clicks” by consumers on Google ads was up, the average “cost per click” was down 9%.

Despite investors’ reactions, Google’s chief executive, Larry Page declared the company as “having a great quarter”.