Internet search giant Google again came up short of analysts' earnings forecast, irking shareholders who believe the company would turn in bigger profits if it did not splurge on far-out ventures like online eye glasses and driverless vehicles.

Google made public its fourth quarter earnings on Thursday, disappointing analysts for the fifth quarter in a row with the online search leader's failure to meet a critical benchmark for publicly held companies.

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The company based in Mountain View, California announced earnings of $4.8 billion, or $6.91 per share, a 41 percent rise from the same quarter in 2013. With certain gains and expenses factored in, Google said per share value was $6.88. Analysts had predicted $7.12.

The company could rake in more income with a leaner workforce and slash spending on cutting edge technology. But Google CEO Larry Page ruled out scrimping on research and development, emphasizing the need to take risks and to bet on big-ticket ideas, which he calls moonshots. He said these open up possibilities of income opportunities and making the world a "better place."

Page holds a controlling stake in Google along with co-founder Sergey Brin. They told investors when Google went public a decade ago that they would set aside money for the long term instead of shoring up profits from one quarter to the next.

Google also ruled out giving any hints how it arrives at internal earnings targets, making it much harder for analysts to come up with their own projections.

The search engine's revenue for the period that includes the busy holiday season grew 15 percent to more than $18 billion. After taking away ad commissions, income whittled down to $14.5 billion - almost a quarter of a billion dollars below analysts' forecast.

Google shares fell $10.31, about 2 percent, to $502.92. Even investors got rid of their shares, company stock prices floundered by 8 percent from their level only a year and a month ago. 

TagsLarry Page