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FBN’s Dennis Kneale with Google’s shocker premature earnings report today, and the loss the stock is seeing.
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And there was some surprises aren't necessarily good Google earnings cats in Washington way off guard earlier today -- -- behind that appears to have influence in inherently.
Global reported third quarter earnings which scheming really well below expectations Dennis -- -- story now Dennis.
Some of this has to do with money validate.
Big stuff and a big number for you to -- Any two billion dollars that is how much market value Google lost in a single day today now after the mistaken premature release an incomplete earnings report that was surprisingly disappoint.
Dual stock plunging after 12 noon time eastern around that and it's still halted and this after that -- AK filing -- the SEC.
Google blaming that error on its publishing vendor RR Donnelley & Sons and that firm's stock is down 5% now down 2% on the news.
Wall Street hates surprises of course and this shocker -- -- -- be out till after trading ended at 4 o'clock today but premature proclamation.
Maybe only part of Google's problem it's supposed to be a growth company but where's the growth dude -- net income fell twenty per -- From a year ago in this most recent quarter that the five point 4% figures wrong we've updated it.
And earnings per share down 7% paid clicks.
Big group.
33% the core which is good right but the price per click down 50% from a year ago to the -- glad they're cheaper.
Down 6% for the second quarter -- growing like gangbusters in one area they'll -- expense is.
Total cost jumped 70%.
That is craziness and there's Motorola misadventure.
That traces talking about Google bought that business for twelve billion dollars.
It ran a loss of half a billion dollars in the quarter.
Now -- flop today could be profit taking Google stock search up 2030%.
In the third quarter was the biggest quarterly rise and almost seven years.
But worry about that growth coming in and expenses and worry about.
Motorola mobility and that investors but everywhere.
You made a great point though in the break though that Larry Page is -- -- dot presuming these numbers racket.
Done a rotten job of massaging Wall Street Wall Street should have been a little bit more prepared and reducing yet -- citizen well.
Because that's -- has been on its parent the company's been doing well up.
We Summers should've been lower in the expectations yet not a good job -- and the street know those I think but see your point he really didn't have -- voiced Bea did.
Is that health issues that someone else -- thank and -- thank you.
