These results came back a little too fast. A premature leaking of internet giant Google’s quarterly earnings lead to stocks plunging so fast that trading was shut down.
FOX Business Network’s Adam Shapiro explains:
Tech giant Google fell hard when it unexpectedly reported 3rd-quarter earnings that missed Wall Street estimates for revenue and earnings. The surprise report mistakenly released early.
Google’s 3rd-quarter earnings per share came in at $9.03, well short of the street’s $10.65 expectation. Analysts point blame at Google’s acquisition of Motorola Mobility, which has been a drag on the company’s bottom line.
Google shares plunged almost 10% on the unexpected news when the NASDAQ halted trading.
Adam Shapiro, FOX News Radio.
