Google Stocks Tank After Printers Accidentally File Miserable Earnings Report Without Comment From Larry
Even a dorky-looking pair of Google Glasses won’t be able to hide the disdain on Google CEO Larry Page’s face today. Reuters reports that the company’s financial printers, RR Donnelley, accidentally filed a draft of the company’s Q3 earnings results to the SEC. “PENDING LARRY QUOTE,” reads a placeholder at the top, indicating that the results were filed accidentally, before Mr. Page had a chance to chime in and defend the 20 percent dive in net income.
Company earnings are typically filed before or after trading hours to reduce the immediate impact on stock prices. As of this writing, Google’s stock had dipped 9.03 percent, though it’s still hovering around $687.
In response to the accidental filing, Google said that RR Donnelley had filed the earnings 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. Read More