Google has (inadvertently) revealed a 20 per cent year-on-year quarterly profit drop, reporting Q3 profits of $2.18bn (£1.35bn), which was below analysts expectations. Trading in Google shares was suspended for two-and-a-half hours after the company released the results early by mistake.
Google blamed financial printing firm, RR Donnelley for the error, caused by filing an early draft of the results. Shares in Google were down 9 per cent when trading was suspended. Google chief executive Larry Page apologised to analysts on a conference call after the market closed. “Im sorry for the scramble earlier today,” he said, adding that the company had had a strong quarter. 
Google attempted to apportion part of the blame to foreign exchange rates, saying that if these had been unchanged, its revenue would have been $136m higher.
