Google accidentally reported earnings before the close instead of after.
– Here’s the SEC filing that started it all…
– Marketbeat: Google GOOG -9.03% Google GOOG -9.03% Earnings Come Early; Shares Drop:
Google reported third-quarter earnings of $9.03, which came in well below the $10.65 analysts polled by Thomson Reuters were expecting.
Earnings fell 20% from a year ago as total costs rose and advertising prices continued to fall.
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 MSI -0.59%MSI -0.39% weighed heavily on Google’s profit, generating an adjusted operating loss of $151 million, or 6% of the unit’s revenue
– Corporate Intelligence: “Pending Larry Quote” – Google Has A Premature Earnings Release
We trimmed it down repeatedly up higher and have been sitting tight into earnings. With the stock down 10% right now, I’d consider starting to scale back in again, but I’m in no rush. I won’t pull the trigger today. Maybe tomorrow instead. Nothing shocking or long-term threatening in the report. Just a report that disappoints all those newfound/weakhanded bulls who were plowing into the momentum of this thing after it crossed $700.
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