Google’s third-quarter financial results are out early and its shares are taking a beating because the company missed revenue and net income expectations.
Revenue came in at US$14.10 billion for the quarter ended Sept. 30, 2012, up 45 percent year on year, according to what looks like a draft copy of the press release that was posted on the U.S. Securities and Exchange Commission’s site.
Subtracting commissions and other fees paid to advertising partners, revenue was US$11.33 billion, below the consensus expectation of US$11.86 billion from financial analysts polled by Thomson Financial.
Meanwhile, net income was US$2.18 billion, or US$6.53 per share, down from US$2.73 billion, or US$8.33 per share, in 2011’s third quarter.
On a pro forma basis, which excludes certain items, net income was US$3.01 billion, or US$9.03 per share, below the financial analysts’ consensus expectation of US$10.65.
Google blamed the premature release of the statement on a mistake by financial printer RR Donnelley. “We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT,” a Google spokeswoman said via email.
