Internet giant Google's profits jump 60 pc over corresponding period last year

   Apr 13, 11:05 am

Washington, April 13 (ANI): Internet giant Google has announced a large jump of 2.89 billion dollars in its profits last quarter, a rise of 60 percent from the same period last year.

The profits and sales made by Google have led to an effective doubling of its shares.

Google said that its quarterly profits exceeded 10 billion dollars, with revenues from the UK at 1.15 billion dollars.

According to the BBC, Google said that its profits rose by 39 percent from the first quarter of 2011 from paid clicks, or people who clicked on ads on Google and its partner sites.

The firm will create a new class of non-voting stock and effectively split the shares two-for-one.

The owner of each existing share will receive one new share of the non-voting stock.

Chief executive of Google, Larry Page, said that the company made tremendous profits from the big bets it made in products like Android , Chrome and YouTube.

He also said that the company had no further plans of any acquisitions and that it was only in its initial stage of growth.

Last year, Google launched Google+, a social network to rival Facebook. (ANI)

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