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 soon became an essential extension to our internal online marketing team."

~ Screwfix Bathrooms ~

  Screwfix Bathrooms

"We are extremely happy with the online visibility achieved through SEO and PPC."

~ Pure Student Living ~

  Pure Student Living

"theEword has consistently produced great results; very happy with the service."

~ Parasol ~

  Parasol

"theEword team has excelled itself in terms of client service, campaign measurement and responsiveness."

~ Linder Myers ~

  Linder Myers

View more of our testimonials »

Twitter sues US government Wednesday 8th of October, 2014by Dan Moores Twitter has filed a lawsuit against the US Justice Department, claiming that it is being prohibited from accurately reporting on government information requests – which it believes it is obligated to do.

More on this story »
james_riches_swap

Bing makes ground in September UK search market share Monday 13th of October, 2014by James Riches Bing was the only major search engine to increase its UK market share in September, climbing 0.4 per cent as Google and Yahoo suffered slight dips.

More on this story »

Microsoft releases quick fire messaging app: Skype Qik Wednesday 15th of October, 2014by Martin Lindley Microsoft launches Skype Qik, a new instant messaging service which allows users to send video clips to their friends and family.

More on this story »
theEword - 3 days ago

Tweets from accounts you don’t follow will soon appear in your timeline http://t.co/L89MdxcvvZ

Reply Retweet Favourite
theEword - 4 days ago

http://t.co/SxOK7Cgy3i introduces the Puls smartwatch http://t.co/mX7yWTO4aP

Reply Retweet Favourite
theEword - 5 days ago

It's food week in our office this week, want to be involved next year? Take a look at our current job opportunities - http://t.co/XqIMl2PGM2

Reply Retweet Favourite
theEword - 6 days ago

For today only National Rail are offering a 16-25 railcard for £18 with the discount code 40YEARS :-)

Reply Retweet Favourite
theEword - 6 days ago

There's 71 days left till Christmas - who has started the Christmas shopping?

Reply Retweet Favourite

theEweekly Wrap: Oct 3 Friday 3rd of October, 2014by Dan Moores

More on this story »

theEweekly Wrap: Oct 10 Friday 10th of October, 2014by Martin Lindley

More on this story »

theEweekly Wrap: Oct 17 Friday 17th of October, 2014by Dan Moores theEweekly Wrap: Google readies Android 5.0, HBO plans streaming service, and U2 says sorry

More on this story »

Who loves theEword

Who loves theEword Who loves theEword