The company describes this as a dividend: Current Google holders would receive one share of the new stock — to be traded on NASDAQ — for each share that they currently own. Google says the new stock would give it a way to compensate employees without changing the current ownership structure. “Having the flexibility to use stock without diluting our structure will help ensure we are set up for success for decades to come,” CEO Larry Page and Co-Founder Sergey Brin say in a note to investors accompanying the release of Google’s Q1 earnings. They add that “there’s no particular urgency to make these changes now—we don’t have an unusually big acquisition planned, in case you were wondering. It’s just that since we know what we want to do, there’s no reason to delay the decision.” The company made the announcement as it disclosed Q1 results that beat analyst expectations. The Internet giant had net income of $2.9B, up 60.7% vs the same period in 2011, on revenues of $10.6B, up 24.1%. The revenue figure beat the $8.2B that Wall Street expected. Earnings for continuing operations, at $10.08 a share, also beat the $9.65 investors expected. Aggregate paid clocks on Google-served ads were up 39% over the beginning of last year, but the average cost-per-click dropped 12%. Shares are up slightly in after-market trading.
Google Plans Stock Split With New, Non-Voting Shares
What's Hot on Deadline
Keaton Jones Facebook Video Gone After Mom's Confederate Flag Photos Surface: Is Hollywood Still "KeatonStrong"?
Skirball Fire: Officials Determine Cause Of Bel-Air Blaze; Thomas Fire Still Unchecked; Apple Donates $1M - Update
Latest Film News
- ‘Star Wars: The Last Jedi’ Review: About As Much Fun As You Could Have At The Movies
- ‘Call Me By Your Name’ Team On Creating Intimacy On Screen For Story Of First Love – The Contenders Video
- Jennifer Lawrence To Star In ‘Burial Rites’ With ‘Call Me By Your Name’ Helmer Luca Guadagnino Directing
- LAPD Opens New Roman Polanski Probe About Alleged 1975 Assault Of 10-Year-Old
- Richard Linklater On Why It Took 10 Years To Get His ‘Last Flag Flying’ To The Screen – The Contenders Video
- Shelter PR Launches Film & TV Division With Hire Of Former Paramount Exec