(MENAFN) Google Inc. missed profit and revenue forecasts for the third quarter of 2014, as the search provider stepped up spending to drive up slowing advertising sales, Times of Oman reported.
Profits were falling short of analysts' average projection for the US giant, while revenues, excluding sales passed on to partners, were USD13.2 billion, just below analysts' prediction.
Revenue at Google's own websites grew 20 percent, compared to 23 percent a year ago. At the same time, the company ramped up hiring and boosted research and development spending by almost 50 percent.
"They're spending a lot to get the talent that they have. What needs to happen is you need to start seeing some of the non-traditional areas contribute more to Google results," an analyst at Macquarie Securities said.
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