Google Knocks It Out of the Park
Search giant Google (NASDAQ: GOOG )
soared to fresh all-time highs today, with shares bursting through the
$1,000 threshold for the first time ever. Google's stellar
third-quarter results were to thank, as the company blew past Street
expectations. Investors had been concerned about how advertisers would
react to Google's new Enhanced Campaigns, which allow advertisers to
target multiple screens in one campaign. The new initiative is off to a
healthy start, and investors couldn't be happier.
Motorola continues to bleed, generating $248 million in operating
losses. However, Google urges investors to keep a long-term focus on the
acquisition, pointing to the progress made on product quality over the
last year. The Moto X just launched, which is the first device fully
designed under Google's watch, and next, Motorola will turn to improving
marketing and distribution.
In this segment of Tech Teardown, Erin Kennedy discusses Google's latest quarter with Jamal Carnette and Evan Niu, CFA.
For the first time ever, Google shares (NASDAQ: GOOG) 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 today. It’s been a great 2013 for Google shareholders. The stock is up over 40 percent this year and over the last 5 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.
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