Google’s first quarter results meet mixed reception

Google’s first quarter results have received a lukewarm reception, with the search engine giant reporting an 18% lift in income, but missing estimates and disappointing with a 54% jump in operating expenses.

“[CEO] Larry Page has made it clear that he is returning the company to investment mode and he is chasing after big opportunities,” BGC Partners analyst Colin Gillis is quoted saying in Bloomberg.

The search engine giant plans to increase its workforce by 6,000 as it targets the mobile market, display ads and social networking.

Another analyst, Heath Terry of Canaccord Genuity, has questioned whether the new focus will lead to “permanently depressed margins”, the newswire says.