Google's Stock Breaks $1000 for the First Time Ever
Google's stock surpassed $1000 for the very first time after the company announced financial results for the quarter ended September 30, 2013.
Sales and profit topped analysts' estimates leading to an 11% jump in the stock's price.
Bloomberg notes: "While Google struggles with declining mobile premiums, it’s staving off a dent in revenue by selling more ads at a faster rate. The volume of clicks on advertisements climbed at the fastest pace this year, compensating for a drop in average-ad prices."
Google reported consolidated revenues of $14.89 billion for the quarter ended September 30, 2013, an increase of 12% compared to the third quarter of 2012. Traffic acquisition costs totaled $2.97 billion, or 24% of advertising revenues.
Google's current market cap is $335.44 billion. That's still short of Apple's $461.37 billion.
You can read the full earnings report at the link below.
Read More [via Bloomberg]