Google Shares Surge on Earnings, Pushes Nasdaq to Record Close

Shares of Google surged on Friday, following a blowout earnings report on Thursday. The stock is TheStreet's Move of the Day. Google A-Shares (GOOGL) and C-Shares (GOOG) wrapped up the session with gains over 16 percent. This comes on the heels of better-than-expected second quarter earnings, which came in at $6.99 a share, compared to estimates of $6.70. Revenue totaled $17.7 billion, an 11 percent rise from a year ago. Plus, Google co-founders Larry Page and Sergey Brin are now a combined $8 billion richer thanks to the surge in Google shares. Page also serves as CEO. Google’s A-shares reached an all-time high on Friday, at one point crossing $700. The surge pushed the Nasdaq to a record close. Google was also the best performing stock in the S&P 500. A-Shares returned 32 percent year-to-date, while C-Shares rose 28.4 percent. TheStreet’s Scott Gamm reports from New York.