Google earnings are out and the Street isn’t impressed. In an SEC filing that appears to have been posted inadvertently, Google reported third-quarter earnings of $9.03, which came in well below the $10.65 analysts polled by Thomson Reuters were expecting.
Ad revenue increased 16% as paid clicks surged by 1/3 from a year ago, and 6% from the previous quarter.
But it’s the profit line that’s getting all the attention Motorola weighed heavily on Google’s profit, generating an adjusted operating loss of $151 million, or 6% of the unit’s revenue.
Google shares are falling fast after the release. Remember, the stock surged 30% in the third quarter and entered the $700 club, suggesting the shares may have been priced for perfection.
Instead, the report was far from it.
Google’s earnings were supposed to come later today after the closing bell, but the report appeared on the SEC website just a few minutes ago.
At the top of the SEC filing reads a line “PENDING LARRY QUOTE,” likely referring to CEO Larry Paige and suggesting the report wasn’t ready for public dissemination
see analysis chart here http://markets.on.nytimes.com/research/stocks/tools/analysis_tools.asp?symbol=GOOG&smid=tw-nytimes
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