Google with 61 percent more profit - plans for a stock split
In the first quarter, the internet company Google posted a profit of $2.9 billion. That is 61 percent more than in the same period last year.
Google's revenue rose by 24 percent to 10.6 billion dollars. Most of the revenue came from advertising in the search engine environment. Google has managed to achieve such an increase in profits even though the company has invested in new products and employees. Google had another great quarter, co-founder and group CEO Larry Page said Thursday at the company's headquarters in Mountain View, California, according to SDA. The big bets on the Android mobile operating system, the Chrome browser or the Youtube video platform had paid off, he said.
Page and his partner Sergej Brin presented their plans for a stock split at the same time as the interim results: The stock currently stands at a good $650. According to SDA, shareholders will therefore receive one non-voting share for each share. The advantage is that in the future, for example, bonus payments to employees or payments for acquisitions can be made using these non-voting shares. The power in the company will not shift as a result. The plan for the share split has already been approved by the Board of Directors.
