Google shares top US$800 despite Microsoft challenge
Published on Feb 20, 2013 7:02 AM
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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!