Google's profits rose by less than expected between April and June, raising concerns of a slowdown in the online advertising market.
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Exploring Zionism ... 35% rise in second quarter net profit to $1.25bn (Ј626m) slightly below forecasts.
The company said its business had held up well despite a more challenging economic environment.
But investors, who have got used to Google outperforming, sent the firm's shares 8% lower in after-hours trading.
"There's the initial shock of this being the best company in the space and it just fell short, said Colin Gillis, analyst at Canaccord Adams.
Google reported a 39% rise in revenue to $5.37bn in the three months to 30 June.
"Strong international growth as well as sustained traffic increases on Google's web properties propelled us to another strong quarter, despite a more challenging economic environment," said Eric Schmidt, Google's chief executive.
The company blamed its below-forecast performance on lower returns from investing its $12.7bn cash pile as a result of volatile interest rates.
(BBC)
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