Google takes hit on slower-than-expected growth

GRAPPLING WITH CHANGE: Google shares whipsawed, losing ground and then gaining, as Wall Street came to grips with concerns about a shift to lower-cost ads on mobile devices and the technology titan

SAN FRANCISCO: Google profit jumped in the recently ended quarter, but the leap fell short of market expectations as smartphone-centric lifestyles brought with them a shift to cheaper mobile ads. 

Google shares whipsawed, losing ground and then gaining, as Wall Street came to grips with concerns about a shift to lower-cost ads on mobile devices and the technology titan’s penchant for spending on “moonshots” like self-driving cars and Internet-linked Glass eyewear.