Updated from 2:27 p.m. EST to include CEO Larry Page comments in the third paragraph, latest share price.

NEW YORK (

TheStreet

) --

Google

(GOOG) - Get Report

shares resumed trading late in Thursday's session after an extended halt following the

accidental early release

of the company's third-quarter results during market hours.

The actual third-quarter numbers were well below Wall Street's expectations, sending the stock down nearly 9% before trading was halted. The company has now

press release

, and shares are trading once again, last quoted down 7.4% at $699.32.

The earnings leak was clearly a major mistake, as evidenced by the phrase "PENDING LARRY QUOTE" at the top of the press release contained in the original Form 8-K filing.

The official press release now contains this quote from CEO Larry Paige: "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."

But the numbers tell a different story, at least as far as the sell-side analysts covering the company are concerned.

Third-quarter earnings came in at $9.03 per share on $11.33 billion in revenue. Analysts polled by

Thomson Reuters

were looking for Google to earn $10.65 a share on $11.862 billion in revenue for the third quarter, up from $9.72 a share on $7.51 billion in sales in the year-ago quarter. Last year's results, however, do not factor in Google's acquisition of

Motorola

, which was completed in May of this year.

Foreign exchange headwinds continued to impact revenue. Revenues would've been higher by $136 million had they remained constant from last quarter, and $557 million higher if they were constant year-over-year.

Wall Street analysts were expecting cost-per-click (CPC), a key metric for ads to bottom out this quarter. That hasn't happened. Google said CPC fell 15% year-over-year, and 3% quarter-over-quarter.

Piper Jaffray analyst Gene Munster put out a quick note on the report, saying the core performance was weaker-than-anticipated. "The miss appears to be on the core search side as Google sites revenue was up 2.5% q/q after being up an average of 8% q/q the past two years," Munster wrote. He noted that mobile monetization again becomes a key concern, as CPC rates continued to decline from the previous quarter. He rates Google "overweight" with an $834 price target.

Stock-based compensation rose from last year, climbing to $762 million, up from $572 million in 2011. The company ended the quarter with 53,546 full-time employees (including Motorola), compared to 54,604 full-time employees as of June 30, 2012. At the end of the quarter, the company had $45.7 billion in cash.

Google, which has reportedly blamed

R.R. Donnelley

(RRD) - Get Report

for the leak, plans to hold its conference call at 4:30 p.m. ET, as previously planned.

TheStreet's

live blog covering the call is slated to start at 3.45 p.m.

Interested in more on Google? See TheStreet Ratings' report card for

this stock

.

--

Written by Chris Ciaccia in New York

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