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10-22-2012 02:12 PM #1
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Google shares fell to 9% because of filing error
After Google’s quarterly results were released, search engine’s shares fell to 9%, knocking $26 billion off its market capitalization. But the error was fixed very fast and the second paragraph of the filing showed "PENDING LARRY QUOTE". Google did not respond to this misunderstanding.
Google blames R.R. Donnelley which is working with quarterly results publishing. Interesting that same problem has been occurred in 2010 and 2011.
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If you read the details you will probably notice that the reason Google share fell was more because its profit did not meet expectation rather than the fact that the results were filed early.
And I think the fall was more than 9%, it probably depends on which press you read.Have you visited our Webmaster Blog ? :: A different kind of dicussion at Nigerian Forums join free. Do you need UK web hosting? I recommend www.hostingshop.co.uk web hosting.
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10-22-2012 06:39 PM #3
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Yes I saw in different sources numbers from 9% to 10.5%. But reuters says that one of the main reason of shares fall is filing error.
'It was quickly obvious that a mistake had been made -- the second paragraph of the filing said "PENDING LARRY QUOTE" instead of an actual quote from Google CEO Larry Page -- but it was not clear why.'
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