Google Split Stocks as Profit Increased
Friday, April 13, 2012 4:43
Internet giant Google has reported a big jump in profit and sales, as it announced an effective doubling of its shares. The company said net profit in the first quarter was $ 2.89bn (£ 1.8bn), up 60% over the same period last year.
Google’s quarterly revenue also exceeded $ 10 billion, with more than half of which comes from outside the United States. The company is split to a new class of non-voting shares and effectively, the shares two-for-one. The owner of each share will receive one new share of the nonvoting shares. And the creation of money through advertising based on search, Google also makes the popular Android mobile operating system. “We also saw a lot of momentum from the big bets we have made in products such as Android, Chrome, and YouTube,” Larry Page, the chief executive, said.
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