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| Version 1 | Version 2 |
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| Google share price tops $1,000 | Google share price tops $1,000 |
| (about 4 hours later) | |
| Shares in Google have broken the $1,000 (£618) barrier after the search engine reported surging mobile and video advertising revenues. | Shares in Google have broken the $1,000 (£618) barrier after the search engine reported surging mobile and video advertising revenues. |
| The shares rose 13% to a record $1,011.41 after the opening bell on Nasdaq – the first time they had breached the $1,000 mark since Google floated nine years ago at less than a tenth of its current share price. From a starting price of $85, they shot above $100 on their first day of trading in August 2004. | |
| Wall Street analysts rushed to upgrade their price targets for the world's biggest internet search company after paid-for clicks on ads rose by 26% in the three months to 30 September and pushed revenue up 23%. | Wall Street analysts rushed to upgrade their price targets for the world's biggest internet search company after paid-for clicks on ads rose by 26% in the three months to 30 September and pushed revenue up 23%. |
| The unexpectedly large rise in activity offset an 8% fall in the average price advertisers pay Google when web surfers click on their ads. | The unexpectedly large rise in activity offset an 8% fall in the average price advertisers pay Google when web surfers click on their ads. |
| "That's the key story. Their ad volume growth is outpacing the decline in cost-per-clicks," JMP Securities analyst Ronald Josey told Reuters. | "That's the key story. Their ad volume growth is outpacing the decline in cost-per-clicks," JMP Securities analyst Ronald Josey told Reuters. |
| Google launched a service in February to help advertisers display their ads through a mix of smartphones, tablets and desktops. The move cashes in on the rapid growth of business on phones and tablets as consumers go mobile. Analysts said the timing of Google's success was a big opportunity for the company with the shopping bonanza of Thanksgiving and Christmas imminent. | Google launched a service in February to help advertisers display their ads through a mix of smartphones, tablets and desktops. The move cashes in on the rapid growth of business on phones and tablets as consumers go mobile. Analysts said the timing of Google's success was a big opportunity for the company with the shopping bonanza of Thanksgiving and Christmas imminent. |
| Google's YouTube business also reaped the rewards of booming online advertising. YouTube-branded video ads jumped more than 75%, with 40% of traffic coming from mobile devices. | |
| Google's net income in the third quarter rose 36% from the same period last year to $2.97bn. Investors' attention will now turn to Facebook, which is due to report third-quarter results on 30 October. The social network has targeted mobile advertising sales and has enjoyed a resurgent share price after last year's flotation left investors nursing losses. | Google's net income in the third quarter rose 36% from the same period last year to $2.97bn. Investors' attention will now turn to Facebook, which is due to report third-quarter results on 30 October. The social network has targeted mobile advertising sales and has enjoyed a resurgent share price after last year's flotation left investors nursing losses. |
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