Google shocked investors Thursday when it reported disappointing third-quarter profits, and mistakenly filed its earnings report with the Securities and Exchange Commission several hours earlier than planned.
Shares of Google stock dropped more than 9 percent after the premature disclosure. The Nasdaq halted trading in its shares in early afternoon, down $68.19.
Google reported third-quarter revenue of $14.1 billion from both Google’s core search business and from Motorola Mobility, the ailing cellphone maker that Google recently acquired. This was an increase of 45 percent over the year-ago quarter.
Net revenue, which excludes payments to the company’s advertising partners, was $11.33 billion, up from $7.51 billion. But net income sank to $2.18 billion, or $6.53 a share, from $2.73 billion, or $8.33 a share.
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N.Y. Times
“Mistakenly filed its earnings report early”?
Somebody is polishing their LinkedIn resume today.
