Google Shares Loose $22 bn After Accidental Earnings Release, Google Blames Financial Printer

Google Shares Loose $22 bn After Accidental Earnings Release, Google Blames Financial Printer Google unfinished financial results for last quarter were release accidentally far ahead of schedule today on the SEC’s website Google is blaming the financial printer RR Donnelley for this screw up.

Earnings were far less than analysts expected and Google shares immediately plunged as much as 10.5 percent, knocking $26 billion off its market capitalization, By the time trading was halted at 12:50pm Eastern Time, Google’s stock traded for under $700.

 

Since then, Google has released a statement that explains what happened. Here is Google’s statement:

Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT.

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