18
Oct
url

Wall Street analysts always read the tea leaves to come up with predictions of how a company will perform each quarter. If said company does better, investors are happy. If it does worse, investors are angry. The financial system is really based on our primal urges. Today, investors are very happy with Google. The company that spawned Android announced Q3 earnings last night that beat expectations, and the markets are going wild – Google stock is currently trading over $1000 per share.

2013-10-18 09_29_47-goog - Google Search

Analysts were predicting $14.80 billion in revenue for the third quarter, but Google announced $14.98 billion last night. After coming in below expectations for the last two quarters, investors were in a celebratory mood. The stock shot upward in after-hours trading and has continued that rise this morning, now up over 12%.

The acquisition of Motorola Mobility has been a drag on Google's bottom line since the deal was closed, but investors seem happy to overlook that today. Google stock is still fluctuating, but even if it closes below the magical $1k mark, they're probably dancing in Mountain View today.

[Google]

Ryan Whitwam
Ryan is a tech/science writer, skeptic, lover of all things electronic, and Android fan. In his spare time he reads golden-age sci-fi and sleeps, but rarely at the same time. His wife tolerates him as few would.

  • http://www.androidpolice.com/ Artem Russakovskii

    Insane.

    • Scott

      It really is. Wish I was able to pick some up some years ago.

  • Joshua

    How many times has a company's stock broken $1k? This has piqued my curiosity.

    • NoX33

      Usually, they split stocks before reaching high values.

    • New_Guy

      Google it :)...

    • Peter

      It's very rare for a stock price to exceed $1,000, and there's a good reason. The vast majority of people don't have a thousand dollars to spare, so most people simply can't afford to buy even one share. Furthermore, the company ultimately WANTS more investors, so having such a high price is counter-productive.

      What usually happens is a stock split. These splits usually happen when the stock value reaches anything between $300 and $500 per share, so I'm surprised Google is waiting so long.

      Say, for example, you bought one share of a company's stock at $100 a share, and the share price increased to $500. First, you're in good shape because you've already made $400. In order to maintain interest from the average person, the company decides to split the stock in two. So, the individual stock price instantly becomes $250 per share. Therefore, your 1 share instantly becomes 2 shares. Now, instead of having just 1 share at $500, you have 2 shares at $250. You don't lose anything, but now more people can buy the "cheaper" shares.

      • Joshua

        Thank you! Excellent, concise explanation!

  • GreatNews

    maybe is it cuz of the Woops by google last night about the Nexus 5???? lol

    • Scott

      Haha but no.

      • GreatNews

        dont worry, i was just kidding, i know its not cuz of the last nights woops...

  • j¤n Gårrëtt [5,000+]

    Google shares could pass the price of gold! imagine that!

  • kpjimmy

    If you want to jump into investing into Google but don't want to spend the $1k per share, go the ETF or Mutual funds that have a heavy portfolio in Google and similar companies. That way you can still jump on the Google train, but not risk all your eggs in one basket, per say. But being a current shareholder of a whopping 2 shares lol, I can attest to going this route as well.

  • Khanh

    not too long ago, it was $870 and I almost bought it.. but didnt.. shitt.. would've made a good $800 or so.. oh well

  • Groud Frank

    If this was Apple I am sure songs of praises would be song by the mainstream media.

    Google, I am proud of you! :)

  • Justin Moore

    Up 12.8% LITERALLY overnight. WOW!

  • Matthew Fry

    They really need to do a stock split. It's a little unrealistic to own a single Google stock as savings.

    • http://AndroidPolice.com/ Liam Spradlin

      If I'm not mistaken they've been discussing this option for a while. I think it will probably end up happening soon.

  • New_Guy

    Daayyuuummmmmmmmm....

  • Michael Pahl

    Investors are confident in Google's revenue generating abilities, unlike Facebook.

    • Jadephyre

      Because, unlike Facebook, Google is actually earning money.

  • Stock Kevin

    I think Google's revenues for Q3 came in at 14.89B and not 14.98B.