Google Shares Tumble After Earnings Miss Estimates
Google's first-quarter earnings came in below analyst projections as the Internet search leader sped up hiring and increased spending other area to drive up its expenses.
Sales for the most recent quarter rose to $6.5 billion, up from $5.07 billion last year, excluding traffic-acquisition costs.
The company was seen earning $8.10 a share on revenue of $6.32 billion, according to a consensus estimate from Thomson Reuters.
The company earned $2.3 billion, or $7.04 per share, in the period ending in March. That was an 18 percent increase from nearly $2 billion, or $6.06 per share, last year.
Technical side some good support area is $530 to $540 level need to watch now if stock broke $530 next support is $508.Google shares shed $28.86, or 5 percent, to $549.86 in extended trading. The stock closed the regular session at $578.51, up $2.23.
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