Google has announced its results for the first quarter of 2012, with revenue up 24% from the same period last year. It’s also planning what’s effectively a two-for-one stock split, giving existing share holders one new share of non-voting stock for every share they already have.
The company reported revenues of $10.65 billion for the quarter ended 31st March 2012, an increase of 24% from Q1 2011. Net income for the quarter was $2.89 billion, up from $1.80 billion in the first quarter of 2011.
Revenue from the United Kingdom came to $1.15 billion, representing 11% of the Q1 total.
Larry Page, Google’s CEO, said “Google had another great quarter with revenues up 24% year on year. We also saw tremendous momentum from the big bets we’ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people's lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.”
[Q1 2012 announcement; new stock plans]