Google sees shares fall as prices for its ads weaken

Google yesterday reported a weakening of prices for its online ads in the second quarter and its shares fell more than 5% in after-hours trade.

The world’s number one internet search engine said net income in the quarter was $3.23bn (€2.46bn) or $9.54 per share, compared with $2.79bn or $8.42 per share, in the same period last year. Excluding items, Google earned $9.56 per share.

The average price of Google’s online ads decreased 6% year-on-year in the second quarter, after falling 4% in the first quarter.