Google Earnings Miss the Mark

Shares of Google sank 10 percent on Thursday after the company's dismal third-quarter earnings report was prematurely released—and showed the company falling short of expectations. Earnings per share had been pegged at $10.65 and instead came in at $9.03. The report also showed that the company’s revenue was $11.33 billion—$500 million less than predicted. Trading was halted until the official report was released, at which point the stock recovered some of its lost ground. CEO Larry Page was quoted in the second report saying, “We had a strong quarter. Revenue was up 45 percent year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter."