Google share split keeps control with founders

GOOGLE has announced a surprise share split aimed at preserving the control of founders Larry Page and Sergey Brin.

The move came as the internet giant exceeded Wall Street’s profit expectations, but revealed a 12 per cent drop in search advertising rates, the second consecutive quarterly decline.

Google’s corporate structure already gives the founders majority voting control of the company, but the stock split will make it even harder for their voting power to be diluted over the long term.

The group delivered strong first-quarter profit growth to $2.89 billion (about £1.8bn) from $1.8bn a year earlier.