Google Earnings Report Accidentally Released, Shares TumbleBy: Chris Crum - October 18, 2012
Google accidentally leaked its Q3 earnings today, ahead of schedule. The company missed analysts’ estimates, and as a result, shares are tumbling. As of the time of this writing they’re at $687.39 (-68.10, -9.01%).
The earnings release is currently displayed at SEC.gov. It shows Google with revenues of $14.1 billion for the quarter, an increase of 45% year-over-year. Motorola revenues were $2.58 billion ($1.78 billion from the mobile segment and $797 million from the home segment). Motorola suffered a $527 million operating loss.
Ad revenue was up 16% year-over-year, and up 6% from the previous quarter.
The release did not have a quote from CEO Larry Page in it. It’s still unclear whether he will be on today’s earnings call. He has been speaking publicly this week for the first time since his vocal cord issues, so it seems fairly likely.
The Wall Street Journal shares a statement from Google on the leak of the report, saying, “Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT.”