Google was expected to post its quarterly results at the conclusion of the trading day today. But apparently as a result of some mistake, the company has posted results right in the middle of the day, causing quite an uproar. The results reveal that Google was able to amass a quarterly revenue of $14.10 during Q3.
Naturally, the unexpectedly early revelation of the results caused quite an uproar in the market leading to a halt placed on the company’s stock until the matter is unresolved. While that remains another issue, the results themselves come off as disappointing for the folks at Wall Street.
The company was able to push up its quarterly revenue by 45% compared to the results posted back in 2011 Q3. However, what was rather disappointing for the stock market gurus was the fact that despite a 45% growth in overall revenue, the company posted a quarterly operating income of $2.74 billion, which is a mere 19% ahead of the total revenue.
What makes the quarter operating income figures all the more disenchanting is that back in the third quarter of 2011, Google was able to nail $3.06 billion under operating profits. So rather than climbing on top of that figure, Google has slid down by a margin, returning the investors disappointed.
Nonetheless, the company’s CEO, Larry Page, seems fairly happy with the results. According to him, “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.”
Source: Google
Courtesy: Engadget
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