Arab Today, arab today google shares soar past 1000 on strong earnings
Last Updated : GMT 15:24:51
Arab Today, arab today
Arab Today, arab today

Google shares soar past $1000 on strong earnings

Arab Today, arab today

Arab Today, arab today Google shares soar past $1000 on strong earnings

California - AFP

Shares of Internet search and advertising titan Google soared more than 13 percent to pass the $1,000 mark for the first time Friday after a strong earnings report. After pushing to $1,007, an hour into trade, the shares had eased to around the $1,000 level, helping push the S&P 500 to a new all-time high and delivering the Nasdaq Composite to its highest level since September 2000. After trade closed Thursday Google reported a 36 percent jump in its third-quarter net profit to $2.97 billion, or $8.75 a share. Revenues also beat forecasts with a 12 percent jump year-on-year. \"We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device,\" Google chief Larry Page told analysts. At the $1,000 mark, Google shares were up 41 percent from the beginning of the year, and the company\'s market value reached $334 billion, still shy of leader Apple\'s $461 billion. Its success Friday helped pull shares of social networking leader Facebook up 4 percent, and online retail power Amazon up 2.8 percent.

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