Google reported first-quarter earnings of $10.08 a share on revenue of $8.14 billion, excluding traffic acquisition costs. Total revenue came in at $10.65 billion. Revenue in the U.S. rose 22% year over year to $4.9 billion, while revenue outside the U.S. jumped 26% to $5.8 billion.
Analysts were expecting revenue of $8.146 billion, excluding traffic acquisition costs, and earnings of $9.65 a share.
Google also said it would be creating a new class of stock, effectively issuing a stock split that is "designed to preserve the corporate structure that has allowed Google to remain focused on the long term."On a conference call, CEO Larry Page said that many investors have asked for a stock split, and this effectively grants it to them.
JPMorgan Chase (JPM) and Wells Fargo (WFC) report their quarterly earnings Friday before the opening bell. Analysts expect JPMorgan to post first-quarter earnings of $1.18 a share on revenue of $24.68 billion, while Wells Fargo is seen posting profit of 73 cents a share in the March-ended period on revenue of $20.46 billion. 6 Tech Stocks That Rate Better Than Apple
Infosys Technologies (INFY), the Indian software services company, said fourth-quarter profit rose 15.2% in dollar terms and sales jumped 10.5%, but revenue for fiscal 2013 would rise only 8% to 10%, below forecasts for the industry. The stock fell more than 10% in Mumbai on Friday.
Dow Chemical (DOW) raised its second-quarter dividend by 28% to 32 cents a share from 25 cents. The dividend will be paid on July 30.
Coinstar (CSTR), whose businesses include the Redbox DVD rental kiosks, provided a first-quarter outlook above analysts' estimates. Coinstar said it sees core earnings from continuing operations of $1.36 to $1.40 a share on revenue of $567 million to $569.2 million for the three months ended March 31. Analysts are calling for profit of 90 cents a share on revenue of $537.7 million. Coinstar attributed the forecast, in part, to strong DVD demand from consumers in February and March. 3 High-Yield Stocks That Could Easily Boost Dividends
-- Written by Joseph Woelfel
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