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Google Beats on Earnings, Announces New Class of Stock
12 Apr 2012 EDT - CNBC.com
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"The stock split has nothing to do with the fundamentals of the business," said Steve Weinstein, an analyst with ITG Investment Research. "In theory, it makes the stock more accessible to smaller investors. I don't think it's material."

Earnings excluding items rose to $10.08 per share from $8.08 a share in the year-earlier period.

Net income was $2.89 billion, compared with $1.80 billion in the year-ago period

Revenue was $8.14 billion, a 24-percent increase from $6.54 billion a year ago.

Analysts had expected the company to report earnings excluding items of$9.65a share on $8.15 billion in revenue, according to a consensus estimate from Thomson Reuters.

"There are not a ton of surprises here (in the quarter), it may be a little bit better than expected," he added. "Costs have been well controlled."

In the previous quarter , Google stunned Wall Street with a rare miss of analysts' profit and revenue expectations, driving its stock down more than 10 percent. (Click here to get after-hour quotes for Google.)

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