Hmm -- maybe not the best time to be investing ~$5B in airwaves...
Internet titan Google Inc.'s revenue and profit fell short of Wall Street expectations in the fourth quarter amid slower growth in consumer clicks on its advertisements and higher fees paid to partners.
But Chief Executive Eric Schmidt said the Mountain View, Calif., company hadn't seen any impact from macroeconomic softening. "As far as we can determine, the answer is no," he said in an interview.
Google's shares fell 6.8% in after-hours trading after it reported fourth-quarter profit rose 17%, compared with 46% profit growth in the third quarter. Revenue rose 51% from a year earlier.
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