Google results disappoint, ad revenue weakens |
| The Globe and Mail - Oct 18, 2012 |
Google Inc. can usually rely on the Web’s instantaneous enthusiasm to help generate the search traffic that make its targeted advertising so profitable.
But on Thursday, that enthusiasm centred on Google chief executive officer Larry Page, part of an embarrassing day for the company that saw Google’s stock drop 9 per cent in mid-day trading, before closing down 8 per cent at $695 (U.S.).
The phrase “PENDING LARRY QUOTE” featured prominently in the company’s third-quarter earnings release, which was inadvertently released early by RR Donnelly, the company responsible for filing Google’s results with the SEC. The results are usually released after the markets close.
Quickly, people joked on Twitter that the “pending” quote might just be, “You’re fired.” A fake Twitter account, @PendingLarry, sent out gems like: “Google News is dropping its digital format, will go all-print.” And someone registered the website PendingLarry.com, which recommends readers not “make a bigger mistake than we just did,” and instead vote for Mitt Romney in the upcoming U.S. presidential election.
Read Full Article from The Globe and Mail
- Posted: 2012-10-20 23:32:14
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