(Reuters) - SAN FRANCISCO, July 19 - Web search leader Google Inc. reported on Thursday a 28 percent rise in profits that fell short of consensus expectations, as a recent jump in operating expenses offset market share gains against rivals.
Shares tumbled 5.5 percent in extended trade after Google said net income rose to $925 million, or $2.93 a diluted share, compared with the year-ago quarter's $721.1 million, or $2.33 per share. Excluding one-time items and stock option expenses, Google posted a profit of $1.12 billion or $3.56 per share, which was 3 cents per share short of Wall Street targets.
Read more at Reuters.com Market News
Shares tumbled 5.5 percent in extended trade after Google said net income rose to $925 million, or $2.93 a diluted share, compared with the year-ago quarter's $721.1 million, or $2.33 per share. Excluding one-time items and stock option expenses, Google posted a profit of $1.12 billion or $3.56 per share, which was 3 cents per share short of Wall Street targets.
Read more at Reuters.com Market News
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