| By Maureen O'Gara |
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| October 19, 2012 05:00 AM EDT |
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2,301 |
Google released its Q3 numbers early Thursday utterly surprising a market high on its business.
It missed on both the top and bottom line, instantly creating a sell-off of its high-flown stock, losing $19 billion in market cap, before it was halted at the company's request at $687.30, down roughly 70 bucks or 9%.
It's still not clear what's going on and whether the company actually intended an early release since it's unusual for a company like Google to post its numbers during the trading day. The release also looks like a draft with the placeholder for a quote from Larry Page.
The market is waiting for an explanation from Google. It's not answering calls from anybody.
Anyway, it earned $9.03 versus expectations of $10.65 on sales of $11.33 billion ex tac versus expectations of $11.86 billion.
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara
