Google Inc. (GOOG), the largest Internet- search company, reported profit that missed estimates after spending more on hiring and marketing amid mounting competition with Facebook Inc. and Apple Inc. (AAPL) The shares fell 5.2 percent.
First-quarter net income climbed 18 percent to $2.3 billion, or $7.04 a share, from $1.96 billion, or $6.06, a year earlier, the company said on its website today. Profit excluding some items was $8.08 a share, below the average $8.12 analyst estimate compiled by Bloomberg.
via bloomberg.com
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