Google Market Value up by $65 billion in Second Quarter
Posted on Jul 20, 2015
This increase in profit value came as a result of the outperformed profit expectations of its YouTube business. According to Reuters report, Google's shares rose 16.3% on Friday, which is the largest single-day jump for Google shares in 7 years.
This news comes only one day after Google disclosed that the number of YouTube viewers rose by 60 percent in the second quarter, which eased the concern that viewers may be switching to Facebook, as Facebook has been intent on developing its video services to increase and generate ad revenues from the market.
The report also noted that the market value gain was higher than the record $45 billion Apple made in 2012. Apple still holds first place as the most valuable company in the world with a market capitalization value of $740 billion, while Google is just behind with a $471.5 billion market capitalization. Last week, Google shares shot up 26 percent in five days, until last Friday, which is the biggest one-week advance since it went public in 2004.
Although the amount falls short of the estimated amounts given by Wall Street estimates, the California based internet company can certainly be content with its higher than expected profits.
I.J.V.