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Google profit jumped in the recently ended quarter, but the leap fell short of market expectations as smartphone-centric lifestyles brought with them a shift to cheaper mobile ads. Google shares whipsawed, losing ground and then gaining, as Wall Street came to grips with concerns about a shift to lower-cost ads on mobile devices and the technology titan's penchant for spending on "moonshots" like self-driving cars and Internet-linked Glass eyewear. "At Google you have strong-willed leaders who tell shareholders they are interested in the long haul and want to invest in interesting long-term projects," said Forrester analyst Frank Gillett. Google has prospered on targeting ads served up with Internet search results on computers.