Google share prices surged Friday a day after the company reported earnings, adding a total of $52 billion in market capitalization as of the start of trading, in the largest single-day gain ever, according to S&P Dow Jones Indices.
Google shares then continued to rise throughout the day, and by the time the market closed, Google had added an incredible $65.1 billion in value.
Google's gain had an outsize effect on the S&P 500, as well, adding more than 6 points to the S&P on Friday, according to S&P Dow Jones Indices senior index analyst Howard Silverblatt.
The Internet giant beat analyst expectations in the earnings it reported after Thursday's close, earning $6.99 per share on $17.83 in revenue.
Google trades under two tickers on the S&P 500, (GOOGL) and (GOOG). The former is the Class A shares, which enjoy voting rights, and the latter is the Class C shares, which don't. Both classes separately feed into the S&P index.
Together, the gains in the two classes of Google shares add up to $65.1 billion worth of market cap. That easily beats Apple's April 2012 gain of $46.4 billion, the prior record holder for biggest increase in market cap.
However, the entirety of Google's gain was not reflected in the S&P 500, as not all of Google's shares are freely floating (some are internally held). Google's index float is 0.84, versus Apple's float of 1. That means that only 84 percent of Google's total gains are included in the float-weighted index.
Just how big are Google's opening market cap gains in the context of the stock market as a whole?
"If that market wealth was put into the S&P 500 as a separate issue, it would be the 94th-largest company in the S&P 500," S&P Dow Jones Indices senior index analyst Howard Silverblatt told CNBC in a phone interview Friday morning.