RSS LinkedIn Google Plus

Call us: 0800 014 9884

Google shares suspended

Google_shares_suspended_12231

Google suspended shares

Google halted trading after the accidental release of its Q3 earnings.

The prematurely published results showed that the search engine giant’s earnings had fallen 20 per cent from last year. Before Google were able to halt trading, the plummet in profits caused Google’s shares to go down by nine per cent, knocking $20bn (£12.45bn) off its value.

After trading resumed following the finalisation of the document, shares recovered slightly and were down by 8 per cent by the end of the day. After the market closed, Google chief executive Larry Page apologised to analysts: “I’m sorry for the scramble earlier today.”

Pending Larry quote

The Google Q3 results were due to be released after the stock market closed. Instead, an unauthorised copy was published early accompanied by the phrase ‘Pending Larry quote‘.

A Google spokesperson has said: “Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorisation.” As the unfinished quarterly release lacked the commentary Larry Page usually adds to financial figures, the search engine wasn’t given an opportunity to explain its results.

Some of the key reasons have come to light, including a fall in ‘cost per click’, the amount advertisers pay Google when an advert is clicked on. As revenue fell by 15 per cent from last year, this suggests that Google faces a challenge as more people turn to mobile use and mobile advertising.

Natalie Booth, online marketing manager at theEword, said: “A growing number of people are browsing on their smartphones, meaning that more advertisers are concentrating on mobile. As mobile phone advertising rates are lower than for desktops, Google needs to find a way to boost its earnings in the mobile market.

Written by lauren_knowles_swapLauren Knowles

Testimonials

"theEword team have been crucial to us achieving record growth in the last financial year"

~ defibshop ~

  defibshop

"theEword understand our market dynamics"

~ Lees Solicitors ~

  Lees Solicitors

"theEword are scrupulously honest and hardworking"

~ Britannia Living ~

  Britannia Living

"theEword consistently go above and beyond"

~ Merlin Entertainments ~

  Merlin Entertainments

View more of our testimonials »

Bing implements one small change and one big change Tuesday 14th of April, 2015by Dan Moores Over the past week, Bing has implemented two changes. One appears to be directly influenced by Google, while the other demonstrates independent thinking and creativity.

More on this story »

April UK search market share: Bing revival stutters again Tuesday 5th of May, 2015by James Riches Bing’s mini-revival in the UK search market appears to have stalled, with data from StatCounter Global Stats showing a second consecutive monthly loss.

More on this story »

May UK search market share: Small gain for Google Monday 1st of June, 2015by James Riches Google’s dominance of the UK search market continues, as webmasters focus on mobile and the public search for Election and Eurovision results.

More on this story »
Twitter
theEword - 2 hours ago

Missed #LightaFireJo? Well, you're in luck, check out our latest blog post about the night > http://t.co/rTiY6UOSSd http://t.co/ISLfWgMHSQ

Twitter
theEword - 5 hours ago

62% of people think that Twitter is the best channel for marketing a business. Do you agree? http://t.co/Ry9Ej6nHLE http://t.co/okLTQ37Wkw

Twitter
theEword - 9 hours ago

Our next available Eworkshop is on the 9th September. To refresh your #digital knowledge book a place now > http://t.co/E8k3qbrXNq

Twitter
theEword - 1 day ago

Want to write great content your customers will love? We've put together a guide to help you > http://t.co/1ceo7DWEdf http://t.co/FEuNEf5uVD

Twitter
theEword - 2 days ago

We're glad everyone enjoyed #LightaFireJo and all of Jo's inspirational stories. Here's our blog about the night > http://t.co/3V6vtUljUh

What retailers need to know about conversion rate optimisation Monday 15th of June, 2015by Andy Williams Conversion rate optimisation (CRO) is the process increasing the number of visitors to a website into conversions. See why it's vital for retailers to use it.

More on this story »

What's the best social channel for your retail brand? Wednesday 24th of June, 2015by Dan Moores You already know how vital social media presence is. Here's how you can make the most of three very popular platforms - and not just from a brand-amplification standpoint.

More on this story »

Light a Fire with Jo Leah Friday 31st of July, 2015by Sian English

More on this story »

Who loves theEword

Who loves theEword Who loves theEword