This post is by The Associated Press from BloggingStocks
Click here to view on the original site: Original Post
Filed under: Google (GOOG)
Google’s first-quarter earnings came in below analyst projections as the Internet search leader sped up hiring, driving up its costs.
The results released Thursday may heighten investor fears that Google’s earnings might suffer because of the company’s commitment to hire at least 6,200 workers this year. That would be the most in Google’s 13-year history.
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.
If not for expenses covering employee stock compensation, Google said it would have earned $8.08 per share. That was below the average estimate of $8.11 per share among analysts surveyed by FactSet.
Revenue was nearly $8.6 billion, a 27 percent increase from last year.