Ooops!! Google accidentally releases poor earnings report early, stock plunges
Arstechnica:
There’s bad news to come in Google’s earnings call later today. But the news was supposed to come a few hours later, and with a presumably sunny quote from CEO Larry Page.
That’s not how it went down, however. Somebody at the search giant filed their earnings with the SEC early, and the press release is clearly a version not meant for public distribution—it’s marked “PENDING LARRY QUOTE” at the top.
The earnings themselves are pretty terrible. The company earned $2.74 billion during the third quarter, as opposed to $3.06 billion during the same quarter last year. That’s $9.03 in earnings per share, well below analysts’ expectations of $10.65 per hour.
Google stock dropped almost $70 on the accidentally released news, hitting $687.30 per share before the company halted trading.
Someone in Mountain View, California is looking for a job right now.
