Google stock opened double-digits higher to all-time highs this morning … all thanks to a third-quarter earnings beat and soaring revenues. That’s the polar opposite of this time in 2012, when GOOG moved quickly in the opposite direction after the third-quarter Google earnings report.
It was a double-whammy day, as GOOG didn’t just miss expectations on the top and bottom lines, but also accidentally filed its 8-K early. The earnings form featured a line reading “PENDING LARRY QUOTE,” along with other signs that it wasn’t finished.
The result: Google stock plummeted 9% in one day — nearly the same amount it has jumped today — before trading was halted.
And “PENDING LARRY QUOTE” enjoyed five minutes of Internet fame.
Of course, Google didn’t just sit back and suffer the mishap alone. It pointed the finger at financial printer R.R. Donnelley & Sons when things went south.
Investors only shamed RRD down 3% on the day of the gaffe, but the headline hangover for the small-cap was much more noticeable. Already sliding R.R. Donnelley & Sons stock fell 16% from the day of Google earnings to 2012’s end, bringing its full-year losses to around 40%.
However, since then, it hasn’t just been Google stock enjoying a rebound … GOOG has just gotten all the headlines (and understandably so).
But RRD stock has posted a bigger and badder comeback. Take a look:
RRD shares have fallen off some since peaking in early August, but at 86%, their YTD returns are still blowing away the 38% GOOG stock climb that has captured Wall Street’s attention this year and more this morning. And since last year’s debacle, R.R. Donnelley & Sons stock has soared 56% to beat the 44% return of Google through today.
So sure, Google is getting more publicity … but R.R. Donnelley & Sons still can call “scoreboard” for now.
As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities.