Google (NASDAQ:GOOG) released the fiscal 2012 first quarter financial statements showing that the company generated revenues of $10.65 billion for the first-quarter, an increase of 24 percent year compared with the same period last year. On the basis of U.S. GAAP, Google realized first-quarter net profit of $2.89 billion, an increase of 61 percent compared with $1.8 billion in the same period last year. Google’s first-quarter revenues and earnings per share exceeded Wall Street expectations, sending GOOG stock price rising more than 2 percent Thursday.
Google’s first quarter adjusted earnings per share was $10.08, outperforming the consensus expectations. Analysts polled by Market research firm FactSet Research on average estimated Google’s first quarter earnings per share would be $9.64.
Excluding the fees paid to the partner sites, Google recognized revenues ex traffic acquisition costs of $8.14 billion, above last year’s $6.54 billion, slightly exceeding analysts had expected. FactSet Research‘s survey showed analysts on average expected the first-quarter revenues ex traffic would be $8.1 billion.
Google reported a total the first quarter paid clicks growth of about 39 percent over the same period last year, but the average cost per click was down about 12 percent over the same period last year. Google generated net cash flows of $3.69 billion from operations and spent $607 million in capital expenditures and boasted free cash flows of $3.09 billion.
The Board of Directors has approved a dividend payout plan, the company will pay a dividend to existing shareholders in the form of a 2:1 stock split, meanwhile retain the existing company and control structures.
GOOG stock price rose $15.05, to report at $651.01, an increase of 2.37 percent in the Nasdaq in regular trading up $ 15.05 to close at $ 651.01, or 2.37 percent. In the after-hours trading, GOOG stock price edged up slightly by 0.46 percent.