Google Shares Fell after Earnings LeakAdded: Sunday, October 28th, 2012
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The international company has seen its share prices plummet with its Chief Executive Officer being ruthlessly parodied after he somehow managed to accidentally leak the company’s 3rd-quarter earnings to the web a few days ago.
Local media suggest that the company’s financial printer has accidentally published a draft version of its third-quarter earnings online. The search giant was expected to publish its financial report only after the markets closed.
An incomplete press release saying “PENDING LARRY QUOTE” featured comments from CEO Larry Page, who admitted that at just 14 years old, Google has cleared its first $14 billion revenue quarter. Page sounded really excited about the progress the company was making in developing a single Google experience across various devices. The report featured net profit of $2.18 billion, which is not as good as $2.73 billion in the same period in 2011. Although the final version which was released just a few hours later showed the same numbers, it also had a CEO comment in place of the above quoted line on the draft. Moreover, the results were not as good as his comment suggested. As a result, the financial analysts weren’t impressed, though, fairly speaking, most of the industry experts hadn’t factored in the purchase of Motorola Mobility. In fact, Google reported that its 3rd-quarter earnings missed the expectations of the Wall Street, and that was the main reason for its shares falling 9% before trading was temporarily halted.
The independent tech analysts were telling the press that the soft results were only “a hiccup in Google’s climb” and that the company was still “on the growth side of the wave”. In addition, a number of parody websites emerged online after the incident. For instance, “PendingLarry” on Twitter became quite popular, with over 1200 followers thus far.
October 28th,2012Posted by:
Sunday, October 28th, 2012
|Well, it says they were ruthlessly parodied, does it sound to anyone else that their Competitors set that up?|
|posted by (2012-10-29 08:31:42)|
|Thanx for the article Sam, This is an obscene amount of profit. Google: go dig wells in Africa instead of giving the money to fat cats!|
|@giraffe dig wells in africa what for. they should sterilise all the women to stop them having 30 kids just to let them starve to death. the uk sends millions to africa each year to buy tools to help them support them selfs. the whole of africa is a bottomless waste of money pit. ffs they still believe in witch craft.|
|posted by (2012-10-30 07:53:07)|
|@puppins Using genocide to justify your paranoid delusions, is just sick. You need medical help.|
|genocide = africa its a ses pit of under educated monkey see monkey do cave men. have you heard of the genocide that went on in africa "rawanda" all because the hutu did not like the tutsi because of how wide the bridge of there nose was thiner or some other bollcoks like that. and its not paranoia its the truth its full of cockroaches that need wipeing of the face of the earth. would you have children just to see them suffer and starve to death or die. now thats sick and barbaric no human with half a brain would do that but those voodoo cockroaches do.||
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