Stock Market Trading Technical Analysis Google Earnings Miss

Date: 10/19/2012

Stock Market Trading Technical Analysis Google Earnings Miss (VIDEO). In this live "stock market education" video we'll cover how to trade long term trends on Google.

Yesterday Google Blamed R.R. Donnelley for Early Release of Earnings (VIDEO). In one of the most scandalous 2012 moments, Google shares lost 10% of their market capitalization due to an unauthorized release of earnings by RR Donnelley. Sounds like an "inside job" if you ask us.

Google Inc.'s stock plunged suddenly on Thursday afternoon after a contractor released the search company's third-quarter earnings report early, by mistake.

The stock fell $68.19, or 9 percent, to $687.30 before trading was halted to give investors a chance to digest the news. Google's report had been slated for release after the close of regular trading Thursday.

Google said printer R.R. Donnelley & Sons Co. filed Google's quarterly statement early to the Securities and Exchange Commission. The printer didn't immediately respond to a request for comment.

In the regulatory filing, Google said it earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year.

The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and restructuring charges related to the acquisition of Motorola. Analysts polled by FactSet were expecting $10.63 per share, on average.

Revenue climbed 45 percent from last year to $14.1 billion. Excluding compensation for websites that generate traffic for Google's ads, revenue was $11.33 billion. Analysts were expecting $11.5 billion.

The strong dollar appeared to have contributed to Google's miss. The company said that if foreign exchange rates had been stable, its revenue would have been $136 million higher.

Excluding this summer's acquisition of cellphone maker Motorola Mobility, Google's revenue rose 18 percent.

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