Friday, April 13, 2012

Google profits higher as it announces stock-split

Internet giant Google has reported a large jump in profits and sales as it announced an effective doubling of its shares.
The company said net income in the first quarter was $2.89bn (£1.8bn), up 60% from the same period last year.
Google's quarterly revenues also exceeded $10bn, with more than half of that coming from outside the US.
The firm will create a new class of non-voting stock and effectively split the shares two-for-one.
The owner of each existing share will receive one new share of the non-voting stock.
As well as generating money through advertising based on search, Google also makes the popular Android mobile phone operating system.
'No big acquisition'
"We also saw tremendous momentum from the big bets we've made in products like Android, Chrome and YouTube," Larry Page, the chief executive, said.

Techno Nigeria


  1. Google certainly know what they are doing.

  2. Most people think that google new product (google+) is a failure, but i will say its one of their best and biggest invention.
    Watch out...