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Google shares lose US$ 20bn

By rotide
Created 19/10/2012 - 08:36

Google figures for the third quarter of the year have been released slightly prematurely, showing a drop in earnings and causing the shares to be suspended over the way the figures leaked out, before being formally announced.

The figures showed a 20% reduction in profits in the third quarter to US2.2bn, significantly lower than expected, which resulted in a sell off of google shares, down 8% on the trading period.

The printer responsible for producing the data to be distributed and did so somewhat earlier than they should have, was said by Google to be responsible for the early release, but not for the reaction which would have happened no matter when the disappointing news hit the markets.

 


Source URL:
https://www.newbusiness.co.uk/news/google-shares-lose-us-20bn