Google Share Crosses $1,000, Powered By Q3 Profit

NEW YORK – The shares of Internetgiant Google crossed the $1,000 mark forthe first time ever on Friday in openingtrade on Nasdaq, a day after it reported a36% spurt in net profit in the July-September quarter.Google’s shares jumped more than 12% to$1,007.40 in heavy trading before edgingback down to $1,000 later in the morning.The stock has never traded higher than$928 in regular market trading sinceGoogle went public at $85 per share nineyears ago. The company had reported a36% jump in third-quarter net income,beating Wall Street’s predictions, late onThursday. Friday’s stock surge tookGoogle’s market capitalisation to about$333 billion, which is still way behind technologyindustry rival Apple, the world’slargest company by market cap at $462billion. Google’s strong profit figuresshowed that its declining average ad pricesare being offset by a more people clickingon ads. The company’s stock has morethan doubled in value in the last five years.But the stock has slipped slightly in recentmonths, while the overall market has risen,amid worries about deteriorating ad prices.Four Indian Women Among Top Biz LeadersApple Preparing 65-Inch TV ForRelease In 2014, Says AnalystHSBC Shuts Brokerage Arm