Google announces first quarter results

Operating income in the first quarter of 2012 was $3.39 billion, or 32% of revenues, compared to an operating income of $2.30 billion, or 27% of revenues, in the first quarter of 2011. Net income in the first quarter of 2012 was $2.89 billion, a plus of US-$ $1.09 billion year-onyear, resulting in earnings per share of US-$8.75 on 330 million diluted shares outstanding, compared to $5.51 in the first quarter of 2011.

“Google had another great quarter with revenues up 24% year on year,” said Larry Page, CEO of Google. “We also saw tremendous momentum from the big bets we’ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people’s lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.”

Google announced today that its Board of Directors unanimously approved a stock dividend proposal designed to preserve the corporate structure that has allowed Google to remain focused on the long term.