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Google Search Giant Add Instant $50bn To Market Value

Google

Google, the popular search giant shares soared to all-time highs on Friday 17th 2015 with the tech giant by adding an instant $50bn to its market value at the start of Wall Street trading.

However, the search giant Google; shares rose with 15% as investors cheered profit figures that showed strong advertising growth on mobiles and its YouTube arm.

This price rise took the company’s market size well above $400bn (£256bn).

The Google search giant’s market capitalization makes it second only to Apple, which is valued at $745bn.

On Thursday, after trading closed, the search giant reported that second-quarter net income was $3.93bn in the three months to end-June, up from $3.35bn for the quarter a year earlier.

The Finance chief Ruth Porat highlighted the growth in mobile advertising and time people are spending streaming video’s on YouTube.

She mentioned that YouTube has more than one billion users and that the number of people in the key 18-49 age group who watch its videos on mobile devices was greater than the number watching cable television.

Reuters reported that at least 27 broking firms raised their price targets for Google shares, with one predicting that the stock could rise as high as $800. In late morning trading the price was $688.

Deutsche Bank issued a research note on the profit figures called “Dawn of a New Era?” – adding that it “feels like it”.

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