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Google shares top US$800 despite Microsoft challenge

Published on Feb 20, 2013 7:02 AM
The Google logo and numbers are displayed on a ticker behind Time Square lights reflected on Nasdaq headquarters windows, Tuesday, Feb 19, 2013 in New York. Google's stock price topped US$800 for the first time on Tuesday, Feb 19, 2013, amid renewed confidence in the company's ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market. -- PHOTO : AP 

NEW YORK (AFP) - Internet search king Google's shares pushed past US$800 for the first time on Tuesday despite a tough new challenge from Microsoft and looming European Union action over alleged privacy violations.

Google's closed at US$806.85 on the Nasdaq exchange, up 1.8 per cent from Friday's close, after having hit US$807 during the day.

That pushed the company's market valuation to US$266 billion (S$328.9 billion). The shares were up 14 per cent from the beginning of 2013 and 33 per cent over the past 52 weeks.

On Jan 22, Google reported firm 2012 fourth-quarter gains, with profit up 6.7 per cent from a year earlier at US$2.89 billion. For the full year, Google's earnings grew 10 per cent to US$10.74 billion, on revenues topping US$50 billion.

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