Google?s Third Quarter 2012 Earnings: Profit down 20 percent to $2.18 billion, net revenue up 45 percent to $11.33 billion

Trading in Internet search giant Google was halted after the company accidently released a disappointing earnings report about four hours ahead of schedule on Thursday (October 18, 2012). Google quickly blamed the blunder on its financial printer, R.R. Donnelley & Sons Co. and then released an official report about three hours after the trigger-finger one.

According to the earnings report, the third-quarter revenue excluding some items was $ 11.3 billion, short of the average estimate for $ 11.8 billion. The third-quarter profit, which was also below estimated profit of $ 10.65 a share, was minus some items of $ 9.03 a share. As a result, Google, the biggest seller of search-based advertising, dropped the most since January, closing at $ 695.42 on Thursday, down 8 percent after the results were inadvertently during regular trading hours.

The world’s No. 1 Internet search engine also reported that the price advertisers paid per click on an ad continued to drop dramatically, decreasing 15 percent from the same period last year.

Google co-founder and CEO Larry Page spoke during a news conference at the Google offices in New York City.

Larry Page was present in a conference call to discuss its third-quarter earnings which was leaked accidently ahead of schedule on Thursday (October 18, 2012). The CEO of Google found the quarter strong, noting that sales rose 45% over the year.

Google shares fell $ 60.49, or 8%, to $ 695 after the company reported a final version of its earnings document. The leaked release showed Google’s net income was down 20 percent year-over-year to $ 2.18 billion, or $ 6.53 a share, compared to $ 2.73 billion, or $ 8.33 a share in the same quarter of 2011.

Earlier this year, Google acquired Motorola Mobility whose revenue for the third quarter of 2012 was $ 2.58 billion, accounting for 18% of Google’s consolidated revenues.

Related articles:

Lucy Southworth: Google Co-Founder Larry Page’s Wife

How Much You Can Earn From Google AdSense Per Month?

Is Pay Per Click (PPC) advertising a dying technique?

Enter your NameEnter your Email Address

Dean

My name is Dean and I have been eager to make becoming an Internet Marketer at long last. I have three grown up children. I am working hard to make Internet Marketing a success so that I can have an income that will allow me to have the freedom to do the things I have wanted to do for so long. I want to be able to give back to the community but am often frustrated that despite having a responsible full time business I am often unable to support my family and others. I like to keep fit and healthy and enjoy playing sports during the week. I like to help others and I believe that this online business will help me to achieve this.