Google (GOOG) Issues Early, Nasty and Ugly Q3 Report; Shares Crash
Google posted Q3 EPS of $9.03, which was well below the analyst estimate of $10.65. Non-GAAP operating income in the third quarter of 2012 was $3.80 billion. his compares to non-GAAP operating income of $3.63 billion, or 37% of revenues, in the third quarter of 2011.
Revenue for the quarter came in at $14.1 billion, up 45% from last year. Ex-TAC revenues were $11.33 billion, which was below the Wall Street consensus of $11.86 billion.
Google said average cost-per-click decreased approximately 15% over the third quarter of 2011 and decreased approximately 3% over the second quarter of 2012.
Shares of Google collapsed on the news, last trading down 9.03 percent to $687.30 before being halted.