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| Google shares hit $1,000 after strong earnings | Google shares hit $1,000 after strong earnings |
| (35 minutes later) | |
| Google shares have topped $1,000 (£617) for the first time after the company reported better-than-expected earnings. | |
| The company posted a 36% jump in net profits to $2.97bn for the July-to-September period. | The company posted a 36% jump in net profits to $2.97bn for the July-to-September period. |
| Shares in the giant online search and ads company rose more than 13% to $1,006, and are now up 41% since the start of 2013. | |
| Google's revenues also beat forecasts with a 12% rise year-on-year. | Google's revenues also beat forecasts with a 12% rise year-on-year. |
| "We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device," Google's chief Larry Page said in a conference call with analysts. | "We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device," Google's chief Larry Page said in a conference call with analysts. |
| The strong earnings report also helped other online companies, with Facebook shares adding 4.4% to a new high of more than $55. Amazon rose 3.4%. | |
| At $1,000 a share, Google's market value is about $334bn, which is still well below Apple's $461bn. | |
| Google was floated in August 2004 at $85 a share, giving the company a market value at the time of $23bn. | |
| The company reported its quarterly earnings on Thursday after US markets had closed. | |
| Google said that paid-for clicks increased by a quarter during the July-to-September period, from a year earlier, the highest rate of growth in the past year. | |
| This offset an 8% fall in average cost-per-click, the price advertisers pay Google when consumers click on their ads. | |
| "We view solid paid clicks growth to be a good indicator of demand, driven by the continued shift to mobile," JP Morgan analysts said in a note. |