19 Jul 2013

Google and Microsoft shares down

12:34 pm on 19 July 2013

Shares in Google fell more than 4% after the closing bell in New York on Thursday because the internet search engine reported weaker ad sales.

Google reported a 16% rise in after-tax profit to $US3.23 billion in the second quarter.

However, it said prices for online ads had fallen, with the average revenue gained from internet users clicking on ads down 6%.

Meanwhile, Microsoft earnings also missed forecasts by analysts, resulting in the stock falling more than 4% after the bell.

Microsoft made $US4.5 billion in the second quarter, but it took a $US900 million charge relating to poor sales of its Surface tablet.