By Carla Mozee, MarketWatch
LOS ANGELES (MarketWatch) — Google Inc. shares were modestly higher late Thursday after the company reported a surge in quarterly earnings and said it plans to create a new class of stock, while Coinstar Inc. shares leapt following stronger forecasts thanks to demand at the company's movie-rental kiosks.
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Google
/quotes/zigman/93888/quotes/nls/goog GOOG
+2.37%
said first-quarter net earnings climbed 61% to $2.89 billion, or $8.75 a share, from $1.8 billion, or $5.51 a share, in the year-earlier period. Revenue rose to $10.65 billion from $8.58 billion. Adjusted revenue, minus total acquisition costs, was $8.14 billion, and the company's adjusted earnings were $10.08 a share.
Analysts were expecting earnings of $9.64 a share on revenue of $8.1 billion, according to a consensus survey by FactSet Research.
Meanwhile, co-founder and Chief Executive Larry Page and co-founder Sergey Brin said Google will create a new class of nonvoting stock, and that the move was "effectively a two-for-one stock split."
See more about Google's results, stock plan.
Late-traded shares of Google were up 0.8% at $655.97. The shares finished the regular session up 2.4%, stretching their gain over the past year to 14%.
Coinstar shares
/quotes/zigman/63447/quotes/nls/cstr CSTR
-2.91%
shined, jumping 14% to $70 after the company raised its first-quarter and 2012 forecasts, citing stronger demand at its Redbox movie-rental machines. The forecasts included a view of core earnings to come in between $1.36 to $1.40 a share on revenue of $567 million to $569.2 million.
Coinstar in February had expected income of 76 cents to 91 cents a share on revenue of $530 million to $555 million.
Read more about Coinstar's forecasts.
Before the evening session, U.S. stocks rose as investors embraced lower bond yields in Europe, while new bank-loan figures and an assessment from the World Bank each pointed to a soft-landing scenario for the Chinese economy.
Read about U.S. stocks in Market Snapshot.
The Dow Jones Industrial Average
/quotes/zigman/627449 DJIA
+1.41%
closed up 181 points, or 1.4%, to 12,986.58. The S&P 500 Index
/quotes/zigman/3870025 SPX
+1.38%
picked up 1.4% to 1,387.57 and the Nasdaq Composite Index
/quotes/zigman/123127 COMP
+1.30%
gained 1.3% to 3,055.55.
/quotes/zigman/93888/quotes/nls/goog 
US
: Nasdaq
Volume: 5.67M
April 12, 2012 4:00p
Market Cap
$206.77 billion
/quotes/zigman/63447/quotes/nls/cstr
US
: Nasdaq
Volume: 2.00M
April 12, 2012 4:00p
Rev. per Employee
$689,601
/quotes/zigman/627449
US
: DJ-Index
Volume: 119.78M
April 12, 2012 4:30p
/quotes/zigman/3870025
US
: S&P Base CME
Volume: 539.96M
April 12, 2012 4:31p
/quotes/zigman/123127
US
: Nasdaq
Volume: 0.00
April 12, 2012 5:30p
Carla Mozee is a reporter for MarketWatch, based in Los Angeles.
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