Google Breaks $1,000 a Share

Jacob Harper |

Tech giant Google Inc. (GOOG) surged in early trading on a strong third quarter earnings report, topping $1,000 a share for the first time in its existence. With the stock pop the Palo Alto, Cal.-based search engine company surpassed Microsoft Corporation (MSFT) to become the third most valuable company on the planet.

The company beat both revenue and earnings estimates from analysts. While the cost-per-click artes Google charges have dropped, the volume has increased, which led to a healthy revenue increase year-over for the company.

While the increase in revenues and profits was substantial, there was one worrying aspect of Google’s earnings report: their foray into phones. Losses attributed to the Motorola hardware division grew to $248 million, as compared to $192 million a year ago.

Google more than made up with the loss with the major increase in advertising volume. Like Facebook Inc. (FB) ,Google has seemingly benefited substantially from a renewed focus on monetizing mobile users.

Investors were undeterred, and Google’s stock exploded on the report. The over $30 billion in added valuation spurred by the stock pop drove the entire American market upwards, with the S&P 500 up over 2 percent in early trading.

For the third fiscal quarter, Google reported net income of $2.97 billion, or $8.75 per share ($10.74 non-GAAP), versus the $2.17 billion, or $6.53 per share, from the same period a year ago. Revenue for the quarter was $14.89 billion, versus revenue of $13.3 billion from the previous year. Analysts were expecting a profit of $10.34 per share (excluding items) on revenues of $14.79 billion.

Google was up 12.98 perent in mid-day trading to hit $1,004.27 a share.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
AIOCF Avigilon Corp 6.17 -0.20 -3.16 3,000
FB Facebook Inc. 132.07 2.07 1.59 19,088,794
GOOG Alphabet Inc. 799.37 2.40 0.30 1,266,181
MSFT Microsoft Corporation 59.66 2.41 4.21 80,032,206


Emerging Growth

Enertopia Corp

Enertopia Corp is engaged in the exploration of lithium in Nevada, USA. The Company's project includes Central Nevada Lithium Brine Projects.

Private Markets

Dropbox, Inc.

Dropbox is a service that allows their users to bring all photos, docs, and videos anywhere, and share them easily. Any file saved to Dropbox will automatically save to all…


Uber connects riders with safe, reliable, convenient transportation providers at a variety of price-points in cities around the world. Uber makes money from charging their drivers 20% of the fare…