Google shares dive 9% after results disappoint

Internet giant Google saw shares plunge last night after its latest earnings update disappointed investors.

The company saw shares drop 9% or $57.67, to $639.6 per share, in after hours trading, after it revealed a decline in revenues. On the pro forma basis which the market uses to judge the company's performance, Google reported earnings per share of $9.50 in Q4, up from $8.75 a year ago but well below the $10.46 a share that analysts had forecast. The company - which rarely misses forecasts - blamed a large part of the shortfall on the writedowns from Google's hedging programme and its Clearwire investment. An 8% drop in the cost-per-click revenue stream also worried the market. Me...