Posted: Oct 18, 2012 12:50 PM by The Associated Press
NEW YORK (AP) - Google's stock is plunging after it released its third-quarter earnings report early, apparently by mistake.
The company's stock is down 7.4 percent in afternoon trading, at $699.51. Google was set to report its results after the market closed.
In a regulatory filing, Google Inc. says 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.
Revenue climbed 45 percent from last year to $14.1 billion.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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