Google Inc's stock plunged suddenly on Thursday afternoon after it released its third-quarter earnings report early, apparently by mistake.
The web search and advertising company's stock fell $68.19, or 9%, to $687.30 before trading was halted to give investors a chance to digest the news.
Google's report had been slated for release after the close of regular trading.
In a regulatory filing, Google said it earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year.\
The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and restructuring charges related to the acquisition of Motorola. Analysts polled by FactSet were expecting $10.63 per share, on average.
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The web search and advertising company's stock fell $68.19, or 9%, to $687.30 before trading was halted to give investors a chance to digest the news.
Google's report had been slated for release after the close of regular trading.
In a regulatory filing, Google said it earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year.\
The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and restructuring charges related to the acquisition of Motorola. Analysts polled by FactSet were expecting $10.63 per share, on average.
More Here