VIDEO: Google sees $19.8bn wiped off its value after blunder

VIDEO: Google sees $19.8bn wiped off its value after blunder


Google saw nearly $20bn wiped off its market value after third quarter earning figures were released prematurely by its financial printer.

The internet search and advertising giant, which recently overtook Microsoft Corp to become the second-largest US technology company, reported a 20% drop in net income to $2.18bn (£1.36bn) between July and September.

But the announcement, which was expected after the market close, was released early after financial printer RR Donnelley filed a draft of its earnings statement without authorisation on Thursday morning.

That resulted in $19.8bn (£12.33bn) being wiped off its value by the market close and trading being halted on the Nasdaq after losses prompted the share price to plummet by up to 10% at some stages. Click below for full story - 


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