Tech rout continues as Google falls on weak earnings

Google shares moved sharply lower in after-hours trading following a disappointing update, with the negative sentiment that has blighted the sector showing no sign of abating.

Shares in Google dropped as much as 5% after the market closed, despite the technology giant reporting a first-quarter rise in profits of 3%. Q1 profits came in at $3.45bn (£2.05bn), but investors are preoccupied by Google's inability to maintain advertising prices. A widely watched measure, the average "cost per click", was down 9% from a year earlier. Analysts are concerned over Google's inability to charge users higher prices for mobile ads, a key area as more and more internet users access the web via their smartphones. The losses in after-hours trading more than erased gain...