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Google Sales, Profit Miss Estimates as Ad Prices Decline

Google Inc., owner of the world’s most popular Web search engine, reported fourth-quarter revenue and profit that missed analysts’ estimates, as weaker European demand and a shift to mobile advertising crimped growth.

Sales excluding revenue passed on to partner sites rose to $8.13 billion, Google said on its website. That compared with the $8.41 billion average estimate of analysts, according to data compiled by Bloomberg. Profit before certain costs was $9.50 a share, missing the $10.50 average estimate. The shares plunged as much as 10 percent.