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Last Updated: Wednesday, 2 February, 2005, 23:03 GMT
Google's shares rally on profits
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Shares in Google closed up more than 7% on Wednesday following the firm's announcement of a huge rise in profits.

The world's most popular internet search engine saw its stock climb as high as $216.80 during the day before pulling back to finish at $205.96.

This closing price saw Google overtake eBay as the biggest internet firm in terms of stock market value.

Google made profits of $204.1m (108m) in the three months to 31 December.

Shares surge

The results were way ahead of market expectations, and compare with the $27.3m profits the company made in the same period a year earlier.

US SEARCH SHARE
Google - 34.7%
Yahoo! - 31.9%
MSN - 16.3%
Time Warner - 9.4%
Others - 7.7%
Source: comScore

Total turnover for the quarter jumped to $1.03bn from $512.2m, again beating analysts' predictions.

When Google first floated back in August, its shares debuted at $85.

Based on its Thursday share price, Google now has a stock market value of about $56bn, compared with an estimated $52bn market capitalisation for eBay.


SEE ALSO:
Advertising revenue boosts Google
01 Feb 05 |  Business
Google creators in share sell-off
21 Nov 04 |  Business
Google warns sales growth to slow
18 Nov 04 |  Business
Google shares fall as staff sell
16 Nov 04 |  Business
Google earnings surge on ad sales
22 Oct 04 |  Business


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