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Tuesday 30 September 2014

Google tops Exxon as No 2 US firm

Published 10/02/2014 | 15:07

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Google has passed Exxon to become the second most valuable US company by market capitalisation.

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The internet company's market capitalisation surpassed that of oil company Exxon Mobil last week, according to FactSet data.

As of Friday's market close, it sat at 395.42 billion US dollars (£241.08 billion) compared with the oil company's 392.66 billion dollars (£239.40 billion).

Shares of Google have been on a steady climb since the beginning of 2013, gaining 66%.

Market capitalisation is the number of outstanding shares multiplied by their value.

Meanwhile, Exxon's have risen just 5%. Since the beginning of this year, they have lost about 10% of their value.

Both companies trail Apple's market capitalisation of 463.55 billion dollars (£282.62 billion).

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