Sunday, October 23, 2005

 

Google’s stock soars higher

`Google Inc.’s market value briefly surpassed $100-billion (U.S.) for the first time Friday, its stock scaling new heights after an earnings and revenue spike that astonished investors. [..]

After the slight retreat, Google’s market value stood at $98-billion after just seven years in business. That was nearly $20-billion above the market value of Hewlett Packard Co. a Silicon Valley pioneer founded 66 years ago.

Google’s shares have nearly quadrupled since their initial public offering at $85 just over 14 months ago a stretch that has been marked by stunning financial growth and a steady stream of new products designed to lure even more traffic to a search engine that seems to spit out profits as efficiently as it does answers.’




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