Google stock trading halted after results released early

ADVERTISEMENT
The statement appeared unfinished, and included the phrase "PENDING LARRY QUOTE"—presumably in place of a comment from CEO Larry Page.

Google blamed its financial printer, RR Donnelley, for the botched release.

"Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization," Google said in a statement. "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 Pacific Time."

The company reported third quarter revenue of $14.1 billion, an increase of 45 percent over last year's figure. But net income fell to $2.18 billion, compared to $2.73 billion in the third quarter of 2011. 

The disappointing results were in part a result of Motorola Mobility, which Google acquired earlier this year. The unit posted a quarterly loss of $527 million. The average cost per click for Google ads also fell 15 percent from last year.

The news sent Google's stock plunging. The stock was down $68.19 per share, or about 9 percent, before trading was stopped at 12:50 p.m.

—Updated at 1:58 p.m.