Investors were surprised today when a draft of Google's quarterly results was released hours before schedule.
The company blamed publisher RR Donnelley & Sons for the mishap, which wound up causing a 9% drop in shares before NASDAQ stopped trading.
In the earnings statement, Google reported a 20% decrease in net income to $2.18 billion, year-over-year. The company's earned net revenue of $11.3 billion in Q3 did not meet Wall Street's expectations of $11.9 billion.
Following the release, Google issued the official earnings statement. “Earlier this morning, RR Donnelley, the financial printer, informed us that they had filed our draft 8-K earnings statement without authorization,” the company said. “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."
Earlier today, RR Donnelley, which filed for Chapter 11 bankruptcy in May 2009, was awarded a $25 million multi-year agreement by Parke-Bell for prepress, printing, binding, and logistics services.