Google Inc (GOOG) Ranked #3 Largest U.S. Company, Inches Closer Towards Exxon Mobil
Google Inc (NASDAQ:GOOG) shares have been surging. As a result, they have become the number three largest U.S. company. As a matter of fact, Google is the leader in U.S. online advertising last year with 41% of the market.
Google also leads in mobile advertising with a 53% market share, according to eMarketer. However, Google’s advertising marketshare is expected to drop slightly as Facebook increases their share from 9.4% to 13.1% in 2015. Google’s overall share in digital ads in the U.S. is expected to grow from 41.1% this year to 44% in 2015.
Revenues: Google’s Q3 revenues shot up 12% over the year to $14.89 billion. Analysts were expecting $10.74 billion. Google also had an EPS of $10.74, which was ahead of the $10.36 projections for Q3. The revenue from Google’s sites grew 22% to $9.39 billion and revenue from partner websites grew to $3.15 billion. For the quarter, paid clicks grew 26% over the year and 8% over the previous quarter. However, cost-per-click dropped 8% over the year and fell 4% over the quarter.
Stock: Google’s stock price closed at $1,031.41 yesterday with a market cap of $344.65 billion. Google’s stock price jumped over $1,000 per share after the Google executive team announced the aforementioned revenues report. Even as early as the beginning of this month, Google’s market cap was below $300 billion. Now Google is inching closer towards Exxon Mobile Corporation for the #2 spot after Apple. Exxon Mobile has a $385.66 billion market cap as of yesterday.@amitchowdhry or on Google+ at +AmitChowdhry