Google surprisingly reveals big drop in profitsOctober 18, 2012 - 21:39 AMT PanARMENIAN.Net - Internet giant Google has revealed a big drop in profits, surprising the market by releasing its third-quarter results early, apparently by mistake, BBC News reports. Third-quarter profits fell 20% on a year earlier to $2.18bn and below analysts' expectations. Shares in Google fell 9%, with some reports saying that trading in the stock had been suspended. The company's results had been expected after the closing bell but were filed early. The press release, filed with the Securities and Exchange Commission, says "PENDING LARRY QUOTE" at the beginning, referring to Google chief executive Larry Page and suggesting that it was not ready for publication and was released by mistake. The statement did not include any comments on the reasons for the slump in profits. Net revenue rose to $11.3bn from $7.5bn, but was still below forecasts. The slide in Google's share price took the company's market value back down below that of Microsoft, which it had overtaken earlier this month. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |