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Posted by on Oct 19, 2012 in Companies, Economy |

Google results are filtered and its shares plunge in the stock market

Google results are filtered and its shares plunge in the stock market

Google’s financial results for the third quarter came ahead of schedule, causing some confusion and chaos in the market. Usually companies give their numbers after the close of trading, so that investors can absorb the news and react (buy or sell) the next day.

However, Google’s results appeared this time in the middle of the trading day, revealing lower numbers than expected, causing a collapse in the shares of the Mountain View company. shares fall reached to 10.5% before the suspension of stock prices.

The company said it will conduct a conference call in a few hours to discuss the results, and to explain how the results were leaked prematurely.

Google reported revenues of USD $14,100 million, including the search business and the recently acquired Motorola. Net income fell to $2,180 million from USD $2,730 million in the same period last year. Analysts attribute the blame for this falls to Motorola.

Link: Google Shares Drop After Earnings Disappoint

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