Google’s stock skyrockets to the thousand dollar mark

On Friday the tech giant Google hit a new record. You might ask yourself what record could it be? Well this record is a big one. On Friday Google’s shares skyrocketed over $1000 a share. Google’s previous record was $926 a share, which happened in July. Google’s spokesperson said that this new record is from the all-around growth and strength in Google. Google’s sales jumped to a huge $14.9 Billion last quarter, which was a 12% gain over last year’s sales.

Where Google feels that they are bringing in the most money is in their search department. As the Internet grows and grows everyday people are using Google to find new things. Google owns a lot of Internet advertising and people use Google’s AdWords which lets your website come up in a search more often. One thing that is weighing the company down is the growing mobile market sector.  Mobile Internet usage is growing at a fast rate and companies don’t want to pay as much for mobile ads when they can pay less for desktop ads. The number of paid clicks rose to 26% over last year, but the average amount paid per click fell by 8%. Another thing that is holding Google back is Motorola. The Motorola mobile business lost $248 million in the quarter due to low sales of their newest “Droid” phone. Google said that it expects Motorola’s financials will be volatile for “quite awhile” Last thing, but it is a good thing, is that Yahoo, Google’s main rival, reported results that were weaker than the prior year.

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