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Shares of Google (NASDAQ: GOOGL) are down 5.5 percent to $534.5 after reporting disappointing first quarter results.

The company reported earnings per share of $6.27, falling short of analyst estimates of $6.40. Revenues came in at $12.2 billion, missing analyst estimates of $12.25 billion. Consolidated revenues did increase 19 percent year over year however.

Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 9% over the first quarter of 2013 and remained constant from the fourth quarter of 2013.

"We got lots of product improvements done, especially on mobile. I'm also excited with progress on our emerging businesses,” Chief Executive Officer Larry Page said.

Posted-In: larry pageEarnings News Movers


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