Google Shares Reach All-Time High As They Surpass $1K Mark
Crediting a huge uptick in the company's mobile and advertising revenue, shares of Google are surpassing the thousand dollar mark for the first time in history.
As of this hour Google (GOOG-NASDAQ) is trading at $1002.08, that is up more than twelve percent after closing just shy of $890 on Thursday, October 17, 2013.
Stocks have previously approached $930 in regular trading. Google debuted on the market on August 19, 2004 at $85.00 per share.
Advertising revenues have been dipping steadily, as cost-per-click rates continue to go down. The package of products offered by Google has apparently offset that trend and tipped the scales in favor of the Internet giant, causing company stock to rise over the last five years.
Google's sales came in at $14.9 billion during the last quarter, representing an increase of about twelve percent, exceeding earnings expectations on Wall Street.