Jonathan Spicer of Reuters writes how Google released its earnings on Thursday by issuing a short press release that directed those interested in the numbers to a posting on its Web site.
Spicer writes, “The statement posed a brief obstacle for the media, analysts and others hungry for Google’s numbers. It may also suggest the company is headed down a road that could hurt companies that distribute press releases, and that some worry could disadvantage some investors.
“‘Google Inc has released its first quarter 2010 financial results. Please visit Google’s investor relations website at investor.google.com/ to view the earnings release,’ the company said in the Thursday statement.
“‘Google intends to make future announcements regarding its financial performance exclusively through its investor relations website,’ it added.
“Google was delivering something called ‘notice and access’ to investors. The U.S. Securities and Exchange Commission requires this, having ruled in 2008 that U.S. companies may use their websites to distribute market-sensitive information.”
Read more here.
