Surprise Drop in Google Profit... Stock price droped 9%

[Lawangeen]

http://www.bbc.co.uk/news/business-19995730

Internet giant Google has revealed a big drop in profits, surprising the market by releasing its third-quarter results early, apparently by mistake.
Third-quarter profits fell 20% on a year earlier to $2.18bn (1.35bn) and below analysts' expectations.
Shares in Google fell 9%, with some reports saying that trading in the stock had been suspended.
The company's results had been expected after the closing bell but were filed early.
The press release, filed with the Securities and Exchange Commission, says "PENDING LARRY QUOTE" at the beginning, referring to Google chief executive Larry Page and suggesting that it was not ready for publication and was released by mistake.
The statement did not include any comments on the reasons for the slump in profits.
Net revenue rose to $11.3bn from $7.5bn, but was still below forecasts.
The slide in Google's share price took the company's market value back down below that of Microsoft, which it had overtaken earlier this month

 

[Khansaber]

That was early release and in Error

"Google has officially released their Q3 earnings report, adding that the initial report was erroneously released early and 'financial results reported in the prior Form 8-K have not changed.'" CEO Larry Page said, "Revenue was up 45% year-on-year, and, at just 14 years old, we cleared our first $14 billion revenue quarter. I am also really excited about the progress we're making creating a beautifully simple, intuitive Google experience across all devices."

http://www.dailyfinance.com/2012/10...=maing-grid7|maing7|dl2|sec1_lnk2&pLid=222216

 

[Keepinformed]

This is normal. Its just adjusting to the new cost arising from a lot of new free goodies being offered recently.

Google is one of the most innovative companies on the planet.

 

[AsifAmeer]

​algo-wars!!