Google CEO Larry Page declared that the company’s quarterly revenue witnessed a 24% increase YoY at $10.65 billion at the end of the first quarter closing on 31st March 2012. Note that this revenue is reported without deducting Traffic Acquisition costs, which was at $2.51 billion or 24.5% of ad revenue. Stock - Split: The company also announced a two-for-one stock split, wherein it plans to create a new class of non-voting capital stock. Shares will be distributed via a stock dividend to all existing stockholders under which the owner of each existing share will receive one new share of the non-voting stock, giving investors twice the number of shares they had before. This will allow Google's founders to maintain their control over the company, since they'll have the majority of shares that have 'voting' rights. Highlights: Google+: The company is still enthusiastic about Google+, and said that there were two parts of Google+ , a social spine and a social network destination. According to Google CEO, Larry Page, the social spine is proportional to Google and all of the usage across Google. He informed that over 170 million people have now upgraded to Google+. However, we don't know if this figure is inclusive of Google+ social network users or just users who recommend search results, pages or apps and other services. He said that Google was on the right track on offering a social spine across all its products, and till date 120 products have been integrated with the social…
