Monday 22 January 2018

Google tops Exxon as No 2 US firm

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

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).

Press Association

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