Google's stock hits all-time high after strong earnings
Shares in the search giant opened at $979 and, by midmorning, crossed the $1,000-a-share psychological barrier.
Google has won itself some new fans on Wall Street.
The Internet search giant on Thursdayamid continued strength in its key search business. Investors must have liked that, and liked it a lot, because shares opened with a jump of more than 10 percent at an all-time high of $979 (and rising) after trading around that level in premarket action this morning and in after-hours trading last night.
Less than an hour after market open, the shares surged past the psychological barrier of $1,000. As of 7:13 a.m. PT, Google shares were around $1,004.
Google benefited from a rise in aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of Google's Network members. The company has also been expanding its line of Chromebook devices, and its Android mobile operating system continues to dominate the market for smartphones. The results are more impressive unit continues to sustain.
The results represent a return to form after Google posted.
The stock has risen roughly tenfold from its initial public offering price of a little more than $100 a share in August 2004.