GOOGLE, the internet giant, missed Wall Street’s second quarter profit estimates yesterday.
Google, the world’s biggest search engine, posted net income of $1.84bn (£1.19bn) in the second quarter, as rising operating expenses offset a 24 per cent jump in its revenue.
The group said its revenue in the three months ended 30 June totalled $6.82bn, up from the $5.52bn it posted during the same period last year.
Google, which has made a string of acquisitions in recent months, also added more than 1,100 employees to its payroll during the second quarter of the year.
Meanwhile, Advanced Micro Devices (AMD) posted better-than-expected results for the same period as corporate spending on tech hardware strengthened.
AMD, which competes with rival Intel, said yesterday that revenue rose 40 per cent to $1.65bn in the period, beating expectations of $1.55bn.
The group posted net income, excluding items, of $83m, versus a net loss of $244m for the same period last year.