Google Tops Exxon Mobil to Become World’s 2nd Most Valuable Company
By Seth Fiegerman
Google has surpassed Exxon Mobile to become the second most valuable company in the world.
Google’s market cap topped $391 billion in early trading Friday, while Exxon Mobil’s market cap dipped towards the $390 billion mark, according to data provided to Mashable by FactSet Research.
The search giant’s stock ticked up following the news last week that it plans to split its stockin April, more than three years after the move was first proposed. Exxon Mobil’s stock, on the other hand, ticked downward after reporting a decline in profit in the December quarter.
Some other stock tracking services continue show Exxon with a slightly higher market cap than Google, a discrepancy that FactSet analyst Michael Amenta chalks up to calculating Exxon’s market cap with an outdated share count. Exxon recently reported having 4.335 million shares outstanding as of the end of 2013. (Bloomberg, Google Finance and others continue to cite the higher 4.369 million share count from the third quarter.)
Google first passed Microsoft’s market value in October 2012 to become the fourth most valuable company in the world, though the two companies did trade places after that.
One year later, Google’s stock hit $1,000 a share for the first time, driven by a strong third-quarter earnings report and investor optimism for Google’s ability to grow ad revenue and continue innovating with other products.
Google is now about $75 billion behind Apple, one of its chief competitors and currently the most valuable company in the world.
image by Seth Wenig/Associated Press