Google stock opens at record high, hits $1,000 a share

Summary:The search giant (turned everything else) opened on Friday at an all time high. Shortly after the opening bell, it hit $1,000 a share.

google
Image: ZDNet

Google hit the $1,000 a share mark on Friday, less than a day after reporting strong fiscal third-quarter earnings.

The search turned cloud and mobile giant opened up 91 points, or 10 percent, on the New York Stock Exchange, when the opening bell struck at 9:30 am ET.

However, in spite of the nice rounded four-digit figure, it doesn't mean all too much for the company. Companies are valued (in a rough sense) by its market capitalization figure.

At the time of writing, Google's market cap stood at $334 billion. By comparison, even though Apple is currently trading at $508 a share, its market cap is significantly higher at $462 billion.

On Thursday, Google reported better-than-expected third-quarter results .

The internet giant reported a net income of $2.97 billion, or $6.53 a share. Despite the drop in advertising prices, Google's results were offset by a larger proportion of ad-clickers.

Over the past ten years, Google's stock has risen by almost ten-times from  its initial public offering price  of $100 a share.

Screen Shot 2013-10-18 at 10.16.00
$GOOG at 10 am ET on Friday Image: Google Finance

Topics: Google

About

Zack Whittaker writes for ZDNet, CNET, and CBS News. He is based in New York City.

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.