Google’s solid earnings yesterday are helping it reach a new, exclusive, stock milestone.
On Friday morning, the company’s stock hit $1,000 for the first time, making it one of the few companies to reach that point. With the milestone, Google joins companies like Priceline, which hit the mark earlier this year, as well as Berkshire Hathaway and agribusiness company Seaboard.
The move is a significant one for Google’s stock, which has been hovering around $900 for the past year.
On Thursday, Google reported third quarter revenues of $14.9 billion, a 36 percent increase over the same quarter last year. Much of that increase came from Google’s ad business, which is doing well despite the fact that advertisers are paying less for clicks than they have previously.