Google becomes 2nd-most valuable American company
By The Associated Press
Published: Tuesday, Feb. 11, 2014, 12:01 a.m.
Google has passed Exxon to become the second most valuable American company by market capitalization.
According to FactSet data, the Internet company's market capitalization surpassed that of oil company Exxon Mobil Corp. last week. As of Friday's market close, it sat at $395.42 billion compared with the oil company's $392.66 billion.
Market capitalization is the number of outstanding shares multiplied by their value.
Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 percent. Exxon's have risen just 5 percent.
Both companies trail Apple Inc.'s market capitalization of $463.55 billion.
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