Gets out of its troubles
Last modified on Thursday, 27 November 2008 05:53
Internet search outfit Google seems to have ended its bad case of plummeting shares, gotten out of bed and had a hot drink.
New data showed the Internet search leader is becoming even more dominant in the most lucrative part of the online advertising market and shares have started to go up again. Internet research outfits comScore and Nielsen Online both said the volume of search requests at Google has climbed substantially over the past year, while rivals Yahoo and Microsoft are losing market share.
Investors have been worried the worsening economy will slow Google's earnings growth, but they were apparently heartened by Tuesday's news. Google shares surged $24.61, or 9.6 percent, to close at $282.05. For the last four months Google Stock has dropped by more than 30 percent so far in the fourth quarter, leaving it near its lowest levels in 3 1/2 years.