Google's financial results come early and come with disappointments

Google's stock price drops 9% on news of lower-than-expected revenue and earnings.

| Oct 18, 2012 at 12:30 pm CDT

It's around that time again when companies report their third quarter earnings. Google is one of the earlier ones out of the gate and actually announced their earnings a few hours earlier than expected this morning. And, unfortunately, they were below expectations and the stock price has been decreasing.

Google's financial results come early and come with disappointments | TweakTown.com

Results fell short of the estimated earnings of $10.65 per share. Instead, Google only managed to pull in $9.03, which is a pretty big decrease (greater than 10 percent). Revenues were also lower than expected, though not by as much. They raked in $14.10 billion, down from estimates of $14.70 billion.

Stock prices have declined by 9 percent on the news of these lower-than-expected earnings.

Last updated: Jun 16, 2020 at 04:29 pm CDT

NEWS SOURCE:gigaom.com

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Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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