UPDATED 15:22 PM EST, February 28, 2013
SAN FRANCISCO (AP) — Google's chief financial officer says the company plans to cling to its steadily growing stash of cash to pay for potential acquisitions and other investments that could boost the Internet search leader's profits.
Patrick Pichette explained Google Inc.'s rationale for holding on to its $48 billion in cash in response to a question posed Thursday at a Morgan Stanley technology conference.
