Following a solid earnings report on Thursday, Google's share price rose quickly beyond $900. As of this morning, however, shares of Google are already trading above $1,000. At the time of publication, Google's stock price was hovering around $1,002, up 12.78 percent on the day.

Google reported an earnings per share of $10.74 on revenues of $14.98 billion on Thursday, beating analyst predictions and outpacing the second quarter of this year, when it failed to meet similar expectations. Google revealed in its earnings that site revenues were up 22 percent over the same quarter of last year and that paid clicks are also increasing, suggesting that its ads are more effective than ever. The company still isn't showing how it's going to boost its lagging Motorola Mobility segment, however, which reported a decline in revenues.

The company's next big update could come in the form of Android 4.4 KitKat and the Nexus 5, which are expected any day now.