Google’s stock opened sharply higher this morning and almost immediately went through the $US1,000 barrier. As of 10.08 a.m. it touched $US1,005.
Yesterday, after Google delivered revenues and earnings per share that beat analysts’ expectations, the stock blew past $US960 in after-hours trading. It has previously been sitting around $US890 or more, but not really venturing beyond $US900.
The stock is being driven by a 28% increase in paid clicks in Q3 2013 over the year before. Although the price per click sank, total revenues went up 12% to $US15 billion. That means more advertisers are continuing to spend more total dollars on Google’s mobile and desktop ad products.
This chart shows it all:
Disclosure: The author owns Google stock.