April 12, 2012 08:06 pm EDT

Google reports $10.65 billion in revenue for Q1 2012, splits stock

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.

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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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