Lots of crying over Panda

[softball]

Investors Agog At Google Spending


Shares in Google (NasdaqGS: GOOG - news) have fallen further as investors worry about the direction of the internet giant under its co-founder and new chief executive, Larry Page.


Google stock lost 5% of its value on Thursday following the company's first quarter results, leaving it 9% lower since Page replaced Eric Schmidt in January.

It was a result of a spend of almost $3bn on chasing business opportunities - with 2,000 new staff hired in the period to help find new markets and technologies and jump-start growth.

Salaries were also boosted in a bid to retain staff.

The costs figure overshadowed a 29% rise in net revenue to $6.5bn and analysts say Wall Street is crying out to hear a clear strategy as Google battles leading social networkers but also chases new business opportunities outside the online market.