(MENAFN) The wide number of smartphone use to access the Internet, and slowing clicks on ads, cut into profits by Google during the third quarter, Arab News reported.
Google's shares dropped after technology giant confirmed the strong rise in its overall revenues, underlying performance suffered from a buying spree to recruit top talent.
Google said its profit in the past quarter dipped slightly from the level a year earlier. Net third-quarter profit fell five percent to USD2.8 billion, while revenue grew 20 percent to USD16.5 billion.
Shares in Google tumbled 2.3 percent to USD512.20 in after-hours trading on the results, which disappointed Wall Street.
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