Google's Market Cap Passes Exxon's

NEW YORK (AP) -- Google has passed ExxonMobil to become the second most valuable U.S. company by market capitalization.

According to FactSet data, the Internet company's market capitalization surpassed that of oil company ExxonMobil Corp. last week. As of Friday's market close, it sat at $395.42 billion compared with the oil company's $392.66 billion.

Shares of Google have been on a steady climb since the beginning of 2013, gaining 66%.

Market capitalization is the number of outstanding shares multiplied by their value.

Meanwhile, Exxon's have risen just 5%. Since the beginning of this year, they've lost about 10% of their value.

Both companies trail Apple's market capitalization of $463.55 billion.