Shares of Google have passed the $1,000 threshold for just the first time. On Friday, the stock was up nearly 14% after the business reported earnings that were better than had been expected.
Shares of the online search giant closed on Friday up 122 points to $1,011.40 and since the beginning of 2012 are 42% higher.
The share price on Friday followed the announcement that the company had a 36% increase in its net profits to just under $2.97 billion for the quarter between July and September.
Revenues at Google also were higher than forecasts with a year on year increase of 12%.
Google’s share price has seen two specific peaks. One was in 2007 when the stock reached the $700 price and the other on Friday October 18, 2013 when it broke through the $1,000 level.
When the stock first floated back in 2004, skepticism early over the real value of the search giant quickly was dissipated, as its investors marveled at the rapidly growing earnings thanks to its formula for advertising.
From 2007, the price halved as new doubts surfaced of whether the growth could continue its torrid pace.
However, over the past four years, as the company has show it can be a force to be reckoned with in mobile advertising like it was on the PC, confidence is returning sending the price of stock higher.
The same is happening just one year and six months after Facebook first floated. Shares of Facebook halved their value during the months just after its IPO. However, it reached a new high on Friday thanks to the proven ability by the social network to earn money from advertising on mobile platforms, which gave investors a restored confidence.
The two are only two companies currently battling for a leg up in the new industry, but at this time, investors have bet that the two will deliver more spectacular growth.
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