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Google reported its quarterly earnings much earlier than expected Thursday, and the results missed analysts' expectations significantly.
After the earnings announcement, the company's share fell sharply, and its market cap shed about $19 billion.
Trading was halted shortly after the announcement at the company's request pending news. The company expects to resume trading during regular trading hours on Thursday.
Following the earnings release surprise, the company issued a statement blaming its financial printer for the early release.
"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," the company said.
The company posted third-quarter earnings excluding items of $9.03 per share, down from $9.72 a share in the year-earlier period.
Google, which has been struggling to turn around a loss-making Motorola Mobility it bought for $12.5 billion, reported that its net income fell to $3.01 billion, from $3.18 billion in the year-ago quarter.
The financial printer must be in a closet hiding right now after such a mistake. Google was near its 52 Week High Price of $774.38
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