This morning, everyone’s eyes are on Q3 earnings call numbers and unfortunately, Google has had a rough day so far. After an unauthorized printing and release of the search giant’s Q3 fiscal records, their stock instantly took a major hit of 9%, before trading was halted on the NASDAQ.
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.
One of the highlights that was noted was the fact that Google cut its full-time workforce from 54,604 to 53,546 since June of this year. In all, Q3 earnings were down about 20 percent from last year’s, still profiting $2.18 billion on $14.1 billion when compared to last year’s $2.73 billion on $9.72 billion third quarter. In terms of cash, Google is still loaded with roughly $45.7 billion in the bank.
Google’s CEO, Larry Page gave the following statement on the company’s quarter:
We had a strong quarter. Revenue was up 45 percent year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter. I am also really excited about the progress we’re making creating a beautifully simple, intuitive Google experience across all devices.
Well, it looks like Larry’s thoughts are in the right spot for us at least – mobile devices! Google is hosting an investor’s call in about 20 minutes where we’ll be listening in for further details or anything Android related.