Google records 30 percent jump in profits in Q4 but fails to meet revenue expectations

Google has reportedly recorded a 30 percent jump in profits over last year by netting 4.76 billion dollars in the fourth quarter but has failed to meet Wall Street revenue expectations, a report said.

The internet giant's revenue went up by 15 percent to 18 billion dollars, nearly the same amount as Apple's profit last quarter, reported the BBC.

Google, like other U.S. firms, was hurt by unfavourable foreign exchange rates and said that its revenues would have been 541 million dollars higher had the U.S. dollar been stronger.

The cost-per-click or the amount charged by Google from advertisers for placing ads on its network, dropped by three percent over the quarter, indicating that the company was still facing difficulty raising the price it charges for mobile ads.

Google shares fell by nearly two percent in trading after markets had closed, but recovered later in the evening.