Google Profit Jumps 38 Per Cent, Announces Stock Split

Google reported $2.89bn in profits on $10.65bn in revenue during the last quarter. Revenue was up 24 per cent from the previous year and profits grew 38 per cent in the same period.

Revenues from the UK totaled $1.15bn, representing 11 per cent of revenues in the first quarter. Google CEO Larry Page says the company expects mobile ads to eventually generate more profit than desktop ads. The company didn't provide many other details about the performance of its mobile business in the last quarter, though Page adds that Google is clocking 850,000 Android activations per day.

Google also announced an effective stock split that will create a new class of non-voting stock, the details of which were outlined in a letter from the company founders.