Shares in Google, the world’s most popular internet search engine, are now worth double what they were when they first went on sale, just weeks ago.
The share price soared after the company revealed that third-quarter profit and sales had more the doubled. The company also stayed true to its pre-launch promise to defy Wall Street convention and make no specific predictions about its financial prospects. Googles shares began trading on the Nasdaq exchange in New York just two monthsago. The company is fending off competition from Yahoo!, the owner of the second-most-used search engine, and Microsoft is also poised to launch its own search engine. But Google’s Chief Executive Eric Schmidt is upbeat. He said: “There’s much more demand than the current market players, including Google, can supply.”