Google Blames R.R. Donnelly For Earnings Leak
NEW YORK (TheStreet) -Google (GOOG) has blamed supply chain and printing specialist R.R.Donnelly (RRD) for its embarrassing third-quarter earnings leak.
"Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization," explained Google, in an email to TheStreet. "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," she added.
Google shares plunged 9.01% to $687.39, before being halted around 12.50 PM ET.
Shares of RR Donnelly dipped 0.83% to $10.76 during mid-afternoon trading. R.R. Donnelly has not yet responded to TheStreet's request for comment on this story. Further adding to Google's bad day, the company missed both Wall Street's top and bottom line estimates, according to the earnings press release. The Mountain View, Calif.-based firm earned $9.03 a share on revenue of $11.33 billion during the third quarter. Analysts surveyed by Thomson Reuters were looking for earnings of $10.65 a share and sales of $11.862 billion. TheStreet plans to live-blog Google's third-quarter earnings release and conference call, starting at 3.45PM ET: --Written by James Rogers and Chris Ciaccia in New York. Follow @jamesjrogers Follow @commodity_bullSelect the service that is right for you!
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