Google just announced its earnings for Q1 of 2012 and the company did not disappoint. It raked in $10.65 billion, a full 24 percent higher than last year for the same time period and a hefty improvement over last quarter. Of that rather sizable chunk of cash, $10.2 billion came from advertising revenues — $7.3 billion of that placed on Google’s own properties. GAAP net income for the quarter was $2.89 billion, more than twice that of Q1 2011, which brings its total war chest to $49.3 billion in cash on hand. Perhaps the biggest news for investors, though, is the 2-for-1 stock split, which is a perfect accompaniment for the skyrocketing price. It’s worth noting however, that this new stock is a new class of non-voting shares. For more info check out the PR after the break and don’t miss the letter from Larry Page and Sergey Brin at the source link.
Continue reading Google reports $10.65 billion in revenue for Q1 2012, splits stock
Google reports $10.65 billion in revenue for Q1 2012, splits stock originally appeared on Engadget on Thu, 12 Apr 2012 16:06:00 EDT. Please see our terms for use of feeds.
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Google reports $10.65 billion in revenue for Q1 2012, splits stock