How high can it go?
Google this week announced financial results for the quarter ended September 30, 2013, and investors reacted in positive fashion to the news, sending the company's stock to an all-time high. The Mountain View company reported consolidated revenues of $14.89 billion, an increase of 12 percent compared to the same quarter a year ago. That translated into a quarterly profit of nearly $3 billion, up an impressive 36.5 percent.
"Google had another strong quarter with $14.9 billion in revenue and great product progress," said Larry Page , CEO of Google. "We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device."
Google said the number of paid clicks rose 26 percent year-over-year, and 8 percent sequentially. However, the cost-per-click decreased 8 percent annually and 4 percent sequentially. That didn't seem to phase investors who collectively flocked to Google's stock, sending shares of the company up to an all-time high of $1,007.40.
At present, Google's stock is trading at around $1,000 per share, valuing the company at over $334 billion.