Facebook Shares Soar To Record High On Solid Earnings Report

Take a wild guess which technology company now has a higher market capitalization than the mighty Oracle? Facebook, as it turns out. In the latest turn in what has been a wild ride (in both directions) since going public, Facebook's stock has surged on solid earnings to a record high. Now, the world's dominant social network is worth $76.74 per share on the NASDAQ.


All told, this puts Facebook's market value at just under $200 billion, and a host of brokerages have raised their price targets on the stock. In other words, don't be surprised to see it reach $100 per share in the next year or two.

The reason behind the lift? News that its mobile advertising revenue was up a staggering 151% in Q2, which made up around 62% of overall ad revenue. At long last, Facebook seems to have a handle on mobile, and it's growing like crazy. After IPO'ing at $38 in 2012, the stock has transformed since. Many of Facebook's moves have caused controversy, but it's hard to argue with the numbers. 
Via:  Reuters
Comments
Drachen 5 months ago

Quite a shame. This company doesn't deserve it.

ChristopherDominguez 5 months ago

numbers, numbers, its always about numbers, never about the best interest

ThomasTaege 5 months ago

I feel like Facebook definitely deserves it. They are the elite social network. If you don't like it then come up with something better. You can't say they haven't earned it though.

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