If you own Google shares, you are starting this weekend a happy camper.
Shares of the tech giant jumped 13% Friday morning after the company reported better-than-expected earnings. At 10:05 AM Eastern Time, the stock finally broke above the $1,000 per share mark, joining companies like Priceline in the $1,000 Club.
(Watch more: Google shares touch $1,000 for the first time ever)
In just one day, Google added $35 billion market cap. That's more than the entire value of Tesla, twice the worth of Netflix and three times that of Tiffany. Google is now worth one-third of $1 trillion. Google alone was responsible for half of the entire S&P 500's gains Friday.
Google's revenues for the most-recent quarter, at $14.9 billion, were 12% higher than they were last year. The company's bottom line was even more improved: up 36.5% to $2.97 billion. So, for every dollar Google took in, it made a profit of 20 cents.
Not all parts of Google are doing great. While the main company has an operating margin of 34%, its Motorola Mobile segment loss $248 million, giving an operating margin of -21%, significantly lower than the -11% from last year.
Google investors have had a great year; the stock is up more than 42%. That's sizably above the tech-heavy NASDAQ Composite index's return of 29% and nearly twice the S&P 500 index's 22%. Some of Google's bigger competitors aren't nearly as impressive. Sure, Facebook may be up 105% this year but Amazon is up "only" 28% while Apple shares are down 4%.
What's next for the Google now that its stock is above $1,000 per share?
Gina Sanchez, founder of Chantico Global, looks at the fundamentals of Google. On the charts is Jeff Tomasulo, Managing Partner of Belpointe's Alternative Investment Group.
Is Google's good quarter and stock pop a sign of things to come? Watch the video above to see the fundamentals and technicals look at the company.
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