Google Inc(NASDAQ:GOOG) & Apple Inc.(NASDAQ:AAPL) Were laggards In The Tech Sector

Google Inc(NASDAQ:GOOG)’s third quarter earnings, which came in unexpectedly early on Thursday missed analyst forecasts both on profits and revenues.

The internet search giant said it earned $9.03 per share in the third quarter, well below the consensus estimate that had forecast an EPS of $10.63; GAAP EPS came in at $6.53.

It reported revenues of $11.3 billion, against forecasts of $11.9 billion. Consolidated revenues of the company rose 45 percent to $14.1 billion.

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Paid clicks rose 33 percent year-over-year, while cost per click fell 15 percent. Google’s international revenue, which represents more than half of its total revenues, hit $6.1 billion. In fact, its share in total revenues rose to 54 percent from 53 percent in the second quarter.

Google-owned web site advertising revenues grew 15 percent to $7.7 billion. The all-important traffic acquisition cost (TAC) number ticked up to $2.77 billion, from $2.2 billion.

The company reported that its cash stock pile had reached $45.7 billion. Its revenues from Motorola were $2.58 billion, or 18 percent of consolidated revenues.

Reports suggested that the early release of the results was a mistake by the company and could have been done in error.

Shares of GOOG ended lower by 8%.

Shares in Apple Inc.(NASDAQ:AAPL) fell about 1.82 percent on Thursday after BMO Capital Markets reduced the price target of its shares citing supply constraints of its iPhone 5.

BMO analyst Keith Bachman slashed his forecasts for the sales of the iPhone in the December quarter by 4 million nits to 46 million.

The equities research firm also expects the iPhone and iPad maker to provide a modest forecast for the December quarter as supply constraints were bound to hi the sales of its iPhone 5.

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Apple had started selling the new iPhone 5 on September 21 and within three days of opening sales, it had already sold 5 million units. Demand exceeded supply and the company was forced to hold over shipments against pre-orders to October.

Despite the problems with its mapping software (which replaces Google Maps) and other niggling issues with its new operating system iOS6, people are still eager to possess the new iPhone.