Jul 16th, 2009 - Reuters
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SAN FRANCISCO (Reuters) - Google Inc's (GOOG.O) quarterly profit beat Wall Street expectations, but the weak economy and slump in advertising spending took a toll on revenue growth and the price of its search ads.
Shares of Google fell 3 percent after the results, which exceeded average forecasts but failed to live up to the heightened expectations of investors following Intel Corp's (INTC.O) strong earnings earlier this week. Google shares have risen 4 percent since Intel's report on Tuesday.
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Google Inc. is preparing to launch an operating system for personal computers, a direct assault on the turf of software giant Microsoft Corp., which has long dominated the market for software that runs PC applications.
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