Google's Quaterly Earnings Report

As I am writing this Google stock is having a bad day. It is down 2.76% with >x2 average volume, and it's just past the first hour of trading. After the earnings report yesterday, which came in with exceptional numbers as far as income ($3.29 EPS) was overshadowed by a slightly lower than expected profit margin. Google spending habits are growing faster than their earnings. How horrible!
Meanwhile the other concern is that Google is a one trick pony, making money only from advertising (much better than anyone else, kind of like their products).
Now I remember reading somewhere that one of the type of spending Google is doing was on developing new products to create new revenue streams.
Am I the only one seeing this? They are taking care of the "one revenue stream" problem by increasing capital spending. Shouldn't this be praised? Shouldn't this type of behavior be encouraged? Or is wall street so used to Companies ignoring a problem until the very last minute, and more than often, too late, that when one companies takes control of their future way ahead of time, they have to be negative about it? For doing something positive too early?
It's not doubt to me that Google is ahead of its time, their mission statement says it all. It must be the only one out of the thousands and thousands of traded companies, which do not contain the world "maximum profits for investors" in it. The way they treat their employees should be a model for everyone. The way they treat their customers should be a model for everyone. The Google model works, plain and simple, and if you trust it, it will reward you.