NEW YORK Google's stock closed on Nasdaq up $23.05 or 15 percent at $172.43 today, following its first quarterly earnings report yesterday as a publicly traded company.
The shares (GOOG) are trading at more than double the Aug. 19 initial offering of $85 a share.
The Mountain View, Calif.-based search company achieved a third-quarter net income of $52 million, or 19 cents per diluted share, an increase from $20.4 million, or 8 cents per diluted share, in the prior-year quarter. Its Q3 revenue grew 105 percent to $806 million from $394 million in Q3 2003 [IQ Daily Briefing, Oct. 21].
As for other Internet company stocks trading on the Nasdaq: Yahoo!'s (YHOO) closed at $34.96, down 74 cents or 2 percent. Ask Jeeves (ASKJ) dropped $3.91 or 11 percent to end the day at $33.04. ValueClick shares (VCLK) closed at $9.09, a decline of 52 cents or 5.4 percent for the day, while FindWhat.com (FWHT) ended at $21, down $1.30 or 5.8 percent.