Google Stock Hits Record High: $1,011.41
Wall Street's value of the Internet search giant is more than the combined worth of Disney, Time Warner, Viacom, CBS and Sony.
Google stock rose 14 percent on Friday to $1,011.41, the highest the stock has been in its nine-year history.
Shares soared $122.61, the biggest one-day point gain ever, a day after the company reported quarterly earnings that were better than Wall Street had expected.
On Thursday, Google said revenue was up 12 percent year-over-year to $14.89 billion, and the company's net income was $3 billion, up from $2.2 billion.
Google went public for $85 a share in 2004, and it has never split. Investors who got in at the IPO price are sitting on a gain of 1,090 percent.
After Friday's big jump, Google is the third largest company in the U.S. in terms of market capitalization, behind Apple and Exxon Mobil.
Google's market cap Friday was $336.82 billion, more than the combined market caps of Walt Disney, Time Warner, Viacom, CBS and Sony.
E-mail: [email protected]