Google Reports Early: Huge Miss Sends Stock Plunging

ZeroHedge ^ | 10/18/2012 | Tyler Durden

[mojito]

Google is down over 8% as it reported earnings early and surprised to the downside...

GOOGLE 3Q REVENUE: $11.33B, EST.$11.83B

GOOGLE 3Q EARNINGS PER SHARE $9.03, EST.$10.65

[mojito]

Not a happy day on Wall Street.

[Vince Ferrer]

PEAK SEARCH: Why The Google Era May Be Over

I wouldn't say "over" as this article does, but Google may have found the limits of a saturated market.

[Noamie]

Google is a data mining operation for the Government and the Democrat Party.

I don’t say that conspiratorially, it just happens to be that way.

It’s over-valued and once the Facebook IPO came out and tanked a good number of people started pointing at Google and asking, “what about that guy? He lying, too?”

[upchuck]

I wouldn't say "over" as this article does, but Google may have found the limits of a saturated market.

Agreed. And I think the same can be said of Facebook. People are catching on to all the spying, tracking and sharing of personal information these types of corporations are doing. And they don't care for it.

[Cincinatus' Wife]

Google shares suspended as premature results stun Wall Street

http://www.telegraph.co.uk/technology/google/9618539/Google-shares-suspended-as-premature-results-stun-Wall-Street.html

Google’s shares crashed by as much as 11pc on Thursday, after the web search giant published its results prematurely and exposed a 20pc fall in its profits.

[Kid Shelleen]

By an amazing stroke of good luck Larry Page seems to have sold a lot of shares a couple of days ago..

http://www.reuters.com/finance/stocks/insiderTrading?symbol=GOOG.O

[mojito]

Their accounting firm, RR Donnelly, posted the results prematurely and without authorization from Google. Ooops.

The results were supposed to be posted after trading closed today.

[Cincinatus' Wife]

It's caused quite a stir, it would seem.

688.94 -66.55 (-8.81%) Real time

[Moonman62]

Google is down over 8% as it reported earnings early and surprised to the downside...

I don't consider 8% to be a plunge. They should put 8% in the headline and let the reader decide.

50% is a plunge.

[Moonman62]

I wouldn't say "over" as this article does, but Google may have found the limits of a saturated market.

Obama has created so many manufacturing jobs for college graduates that they no longer have as much time to spend on Google.

[JediJones]

Especially since it’s only down to the price it reached 6 weeks ago during a big 20% rally in recent months. This is more like a correction.

[mojito]

Trading was halted, or the declines would have been much worse.

On today's Wall Street, an 8% decline in a stock as widely held as Google is a big deal. A decline that large has wiped out the quarterly earnings of many brokerages and hedge funds, not to mention many institutional investors like large pension funds.

[Moonman62]

On today's Wall Street, an 8% decline in a stock as widely held as Google is a big deal.

Yes, it's a big deal, but read post #11 with which I agree.

[Moonman62]

Especially since it’s only down to the price it reached 6 weeks ago during a big 20% rally in recent months. This is more like a correction.

Good observation.

[MARTIAL MONK]

Google Reports Early: Huge Miss Sends Stock Plunging

Crowley again?

[UCANSEE2]

You velly clever.

[PapaBear3625]

On today's Wall Street, an 8% decline in a stock as widely held as Google is a big deal. A decline that large has wiped out the quarterly earnings of many brokerages and hedge funds, not to mention many institutional investors like large pension funds.

If the earnings report was so bad, why does it matter if the price plunge happened yesterday afternoon versus this morning?

I think some people who planned on getting out before official release of the data are pissed...

[mojito]

The information was supposed to be released after trading had concluded for the day.

And you’re probably right.