Google Inc reported third-quarter results that missed Wall Street expectations, sending shares down as much as 10.5 percent and weighing on broader markets after the release came unexpectedly early.
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COLIN GILLIS, ANALYST AT BCG:
"We have been saying this thing was ripe for a pullback. It's not like they're Google not being Google, but you still have some major issues. Click prices declined for the fourth consecutive quarter after rising for eight consecutive quarters before then. That's a negative. This is the mobile problem.
"The other bit is the Motorola millstone had been ignored by the market, and - boom - now you've got weak revenue from Motorola. When you acquire a business and you're about to whack all kinds of people and close offices, you know what happens to the employees? They take their eye off the ball. Sales are down."
(Reporting By Noel Randewich in San Francisco)