Trading in Google stock was halted Thursday
after it dropped more than 9 percent in the aftermath of a badly
timed earnings release in which the Internet giant missed market
The quarterly earnings report had been scheduled for release after the close of trading, but Google inexplicably filed the document with the Securities and Exchange Commission at the height of trading.
The company's results showed that profit slipped to $2.18 billion from $2.73 billion in the same quarter a year ago, while revenue was up to $11.33 billion below Wall Street's expectations of $11.9 billion.
The decline in profits was attributed largely to Google's takeover of loss-making smartphone maker Motorola earlier in the year, causing a rise in operating expenses from $3.28 billion a year ago to $4.81 billion in the recent quarter.
Google said that the earnings report had been filed by the company's financial printers RR Donnelley without permission.
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