"The ability on your mobile to do local kinds of transactions, to really easily communicate with people and ... the fact that you spend most of your money locally, over time that might actually reverse, the CPCs [on mobile] actually may get better," he said.

Google also announced a novel type of stock split that will increase the volume of its shares on the market without reducing the voting power of its senior managers.

The company will create a new, "non-voting" class of stock to be listed on the Nasdaq stock market. The move amounts to a two-for-one stock split, but the additional shares that will be granted to each shareholder will not increase their voting power.

In a to shareholders, Google acknowledged the move might not be popular with everyone.