Beginning at 4:30PM EST, Google will be holding its quarterly earnings call where Larry Page and co. will be talking numbers. Google will announce the numbers a few minutes early, via press release, so make sure you follow along. You can also listen in on the call here.
Update: finished. Check out the call below.
Prior to the call, Google has announced revenues up 24% year over year, with revenue coming in at $10.65 billion and net income at $2.9 billion for the quarter. The company has also announced a new stock split for its investors. The call should be getting started shortly.
CEO Larry Page is on the call talking the 24% increase in revenue year over year. “We’ve given many of our products a visual refresh. We’ve closed or combined 30 products.. don’t want to spread ourselves too thin.”
Chrome for Android and Google Play are a great experience, says Page.
“Google Plus you should think of in two parts: social spine and social destination.” 120 Google+ integrations across the Google network to date. “We’re starting up a new community.”..”I’ve passed 2 million followers” ..brag much?!
170 million users now on Google+. 200 million total Chrome users.
Now talking stock split. “Strong desire to create technology products that help people’s lives.. returns for everybody involved.” New class of non-capital voting stock: stock dividend, 1 new share of non-voting stock giving stock owners twice the number of shares. These are long term. No BIG acquisition planned — if that’s what you though. Darn.
David is now online explaining more technical aspects. Proxy statement being filed soon. New class of C stock…same as A and B but no voting rights. 1 share of class C for one A and B stock. Essentially, stock owners will now be getting 2-for-1. Really.. check out the founders letter for more info. Proxy statement being filed next week.
Patrick now on the line to talk the quarter.
24% revenue up year-over-year.. Google website revenue also grew 24%. Strong internationally, too. “Our business is healthy.” Talking relationship with advertisers… complex.
$3.9 billion of net income in Q1 2012.
Head count 33,077 full time employees. 18% tax rate.
“Breakthrough in brand..huge progress in being a key buy for brands look to advertise.”
Stock is up 10 points in after hours.
Strong growth in Asia.
“Q1 was a great quarter.. great start to 2012”
Back to Patrick. Time for Q and A.
That does it for us today. Thanks for following along.