Google

Google this afternoon released its first-quarter 2012 earnings results. And as you can imagine, there are a lot of zeros in them. Specifically, revenue was at $10.65 billion for Q1 2012, 24 percent higher than in Q1 2011. Cash on hand at the end of March was $49.3 billion, and Google added about 600 jobs in Q1.

Additionally, Google announced what essentially is a stock split, creating a new class of non-voting capital stock that will be awarded via a dividend to existing stockholders in a one-to-one manner.

We'll be listening in on the conference call in a few minutes to see if there's any Android-specific news.

Source: Google Q1 2012 Earnings; Founders Letter

 
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Google's revenue up 24 percent over 2011; stock split announced

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The new shares will be non-voting shares, and will help the cofounders maintain control over the company.

"Maintaining this founder-led approach is in the best interests of Google, our shareholders and our users," write the cofounders.

From "Here's Why We Just Announced A Stock Split"

Pretty bold if you ask me. They (all stock holders, actually) essentially get to cash out the non-voting shares, transferring huge piles of cash into their pockets, while still retaining majority control of the company by virtue of holding the voting shares.

The non-voting shares are still good for speculation purposes in the stock market, but their value will fall to reflect the fact that they carry no voting rights.

Avoids competitors from getting too much voting stock too. Just leaves open the possibility of a BS derivitive action as a last resort. It is pretty bold.