Google Inc.'s short-term outlook has grown increasingly murky in the wake of new data showing weakness in the number of consumers clicking on the Internet giant's search ads, the source of nearly all of the company's revenue.

The February data from research group comScore Inc. marks the second consecutive month that Google's paid-click data disappointed analysts and investors, who responded by driving the company's shares down 3.1% Thursday.

But analysts were divided about the reasons for, and the impact of, the disappointing data. Some suggested economic weakness could cause Google to fall short of Wall Street's first-quarter estimates, while others argued that efforts by the company to trim the number of clicks -- which should enable it to increase the amount it charges per click -- will boost the company's long-term prospects.

'Forecasting financial results in a recession is extremely difficult especially for an industry/company that has not experienced an economic downturn and for a company that provides zero guidance,' Morgan Stanley analyst Mary Meeker wrote in a research note to clients.

Google declined to comment.

A number of Wall Street analysts said Thursday that the latest comScore data make it more likely that Google will fall short of average estimates for the quarter. On average, analysts project first-quarter earnings will rise 24%. In the first quarter of 2007, Google's net income was $1 billion, or $3.18 a share.

谷歌(Google Inc.)的短期前景越来越不容乐观。最新数据显示，该公司搜索广告点击量下滑，而这项业务几乎是其所有收入的来源。

研究机构ComScore Inc.最新发布的数据显示，谷歌2月份的付费点击量连续第二个月低于分析师预期，这一消息导致该公司股价在周四下跌3.1%。

不过分析师对该公司业务数据令人失望的原因及影响却有不同的看法。一些人认为，经济降温将导致谷歌第一季度的业务弱于分析师预期。而另一些人则认为，这种现象是谷歌减少需付费的点击数量所致（这会增加平均每次点击的付费），从长期看将能提升谷歌的业绩。

广告摩根士丹利(Morgan Stanley)分析师玛丽•米克(Mary Meeker)在提供给客户的研究报告中称，在经济衰退的环境下预测一家公司业绩是极为困难的，特别是一个从未经历过经济衰退的公司或行业，而且还是在这家公司不公布任何经营目标的情况下。

谷歌对此不予置评。

不少华尔街分析师周四表示，根据ComScore的最新数据判断，谷歌第一季度业绩弱于外界平均预测的可能性越来越大。分析师平均预测谷歌第一季度收入增长24%。该公司去年第一季度的净利润为10亿美元，合每股净收益3.18美元。
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