October 18, 2012

Google Has a Bad Quarter, Trading Halted

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Google earnings are out, and they’re bad. The Motorola acquisition has hurt them, costs are up, and ad revenue increased only modestly. Naturally, their stock price immediately plunged:

Google shares fell fast after the release and are now halted. The stock dropped as much as 11% to $676 before bouncing back and being halted at $687.30, down 9%.

Wait a second. What am I missing here? Trading has been halted because Google shares dropped 9%? That hardly seems like a halt-worthy decline. I wonder what else is going on?

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A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

With just hours left, we need a huge surge in reader support to get to our $400,000 year-end goal. Whether you've given before or this is your first time, your contribution right now matters. All gifts are 3X matched and tax-deductible.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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