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Friday
Oct182013

Google Stock Tops $1,000 a Share

Google / ABC News(NEW YORK) -- For the first time ever, Google shares have crossed the $1,000-a-share mark.

Google stock is soaring in early trading, up more than $110-a-share -- a gain of nearly 13 percent just on Friday.

It’s been a great year for Google shareholders.  The stock is up over 40 percent in 2013 and over the last five years, shares have surged almost 170 percent.

For investors who jumped on the Google bandwagon early when it went public nine years ago, the ride has been even sweeter.  Those investors have been watching the stock since its IPO price, $85-a-share.

The reason for Friday’s triple digit surge is its third-quarter earnings report that blew past Wall Street’s expectation.  The company earned $3 billion in the three months that ended in September, compared with $2.2 billion in the same period last year.

Google is the latest company to cross the $1,000-a-share mark. Just last month, Priceline’s stock hit the $1,000-a-share mark. Another member of this elite club is Warren Buffett’s Berkshire Hathaway.

But both Google and Priceline have a long way to go before catching shares of the Oracle of Omaha’s company. Berkshire shares currently trade at around $175,000-a-share.

Copyright 2013 ABC News Radio