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Google achieves new milestone with USD1,000 share price hit

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October 18
12:06 PM 2013

Google Inc had reached a new stock milestone on Friday morning. The stock of the Internet giant hit USD1,000 for the first time.

The new milestone had added Google to the list of companies which had also hit the thousand-dollar stock price this year. Some of the companies whose stock hit USD1,000 per share were Berkshire Hathaway, Priceline and Seaboard, an agribusiness company.

Google's shares had been staying put around the USD900 per share mark since the past year.

Google's strong third quarter numbers were attributed to the company's high stock price. Google reported a whopping USD14.9 billion in income. The amount was significantly higher than what analysts had projected. Earnings per share were at USD10.74, an increase from analysts' estimated USD10.36 earnings per share. Google also has a strong cash chest at USD56.52 billion.

Google chief executive Larry Page had said about the company's overall company position, "Google had another strong quarter with $14.9 billion in revenue and great product progress. We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device."

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