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More on Google's Q1: The new share structure is defended via another letter praising Google's...

More on Google's Q1: The new share structure is defended via another letter praising Google's long-term focus (previous). Ad click rates fell another 6% Q/Q and 12% Y/Y, backing up recent fears. Paid clicks rose 7% Q/Q and 39% Y/Y, up from Q4's 34% and likely fueled by mobile. International sales were 54% of revenue. Capex relatively mild at $607M, down from Q4's $951M. Headcount growth was a modest 610 (helps explain the earnings beat). GOOG +1.2% AH. (PR)
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