GOOGLE’S PROFITS for the second quarter were less than expected, although the internet giant continued to grow its earnings, Reuters reports. This is the first time in two years that the company has missed Wall Street’s profit estimates.

Google generated a handsome $6.82 billion for the three-month period ending on 30 June. A 24% increase in costs ate into that revenue, but the company says it will continue to invest in research and development. Google told BusinessInsider that it was “very pleased” with its results for the quarter.

An additional 1,200 employers hired in this period will take a toll on profits in the next quarter. Shares in the company dropped nearly 4% due to investors’s concerns over Google’s rising costs.

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Support us Learn More

Google still in profit, but disappointing investors

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.