Google Gains Eye-Popping $40 Billion in Market Value in One Day

Shares of Internet giant break through the $1000-per-share mark on strong Q3 earnings

Google shares soared to all-time highs Friday — breaking past the $1,000 mark to close at $1,011.41 per share, up 13.8% for the day — after the Internet giant posted strong third-quarter financial results.

The company has a market cap of $336.8 billion, based on the closing price Friday. That makes it the third-biggest U.S. company in terms of valuation, behind Exxon and Apple.

Investors pushed Google shares up past $1,000 in morning trading, and the stock peaked at $1,015.46 per share in the early afternoon.

Google reported a 36% increase in net income for the third quarter of 2013, to $2.97 billion — its best bottom-line growth in more than a year. In addition, the company offset lower ad rates for mobile devices by selling a higher volume of ads. Google posted $14.89 billion in consolidated revenue for the quarter ended September 30, up 12% year over year.

Google operates the web’s biggest search engine and the Internet’s largest video site, YouTube, which has more than 1 billion monthly users. According to Google execs, nearly 40% of YouTube’s traffic now comes from mobile devices, up from 6% in 2011.

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  1. Doctor says:

    Google is the new Halliburton

  2. bob says:

    Can you say massive bubble ?

  3. Jam Lip says:

    “They paid nothing in taxes this year”- If this was correct that would mean that they paid no taxes on the real estate that is their campus, no taxes on the power that they use at all their offices, no sales taxes on materials purchased, and no matching fica taxes. Of course non of their employees paid taxes on wages etc etc. The point being they may have followed the tax code and not paid corporate taxes on their profits but they paid a whole lot of tax along the road to making profit.

    • jay says:

      Everyone tries to dodge taxes, you get mad at google, but all your friends and neighbors try and do the same thing on a smaller scale, using every grocery,insulation,window,child deduction available, to make their return as big as possible.

  4. TLP says:

    And yet, they paid NOTHING in Taxes this year.

  5. Mars Sullivan says:

    Maybe America needs to lower their tax rate and encourage free enterprise and do away with the hoops that business needs to jump through. That would float all boats and not just the EVIL rich!

  6. No surprise here… They’re tax dodgers, reporting the majority of their profits out of an Irish subsidiary in the Caribbean – all because the corporate tax rate there is 0% in comparison to 35% in the US. It’s multi-national companies like this who don’t pay their fair share, that ruin it for us ALL as a nation! Puts too much of a burden on the government with the loss of tax dollars that should be used to lower the debt and provide necessary services!!

  7. Mars Sullivan says:

    Google IS the government:-)

  8. scott says:

    is it all smoke and mirrors ?

  9. Steve Hoskins says:

    What is their annual profit to market cap ratio compared to other Fortune 50 companies?

  10. NowYouKnow says:

    Can you say: “Dot Com Bubble” ?

  11. ipgrunt says:

    Wow, Google makes almost as fast as the federal government spends it.

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