Google shares suspended after profit results mistake
October 19 , 2012
Trading in Google shares was suspended on Wednesday after the Internet giant released its Q3 results early by mistake.
Third-quarter profits plummeted by 20 percent compared to the previous year to $2.18 billion, falling well below analysts’ expectations.
Net revenue rose to $11.3 billion from $7.5 billion but still came in below forecasts.
Google blamed financial printing firm RR Donnelly for filing an early draft of the results, which was due to be released after the closing bell.
In a statement, Google said: "Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization.
"We have ceased trading on Nasdaq while we work to finalise the document. Once it's finalised we will release our earnings, resume trading on Nasdaq and hold our earnings call as normal at 1:30 PST."
Shares in Google fell 9 percent before trading in the stock was suspended.