It seems like a century has passed since Facebook's
IPO and subsequent stock performance came under scrutiny. Turns out all Facebook needed was to post a stellar earnings report
, as it did earlier this week, and investors would be frothing at the mouth to own a chunk of the world's most popular social playground. In the aftermath of Facebook's latest earnings report, the company's share price sky rocketed to record levels, and it's now worth more than several long-time heavyweights such as AT&T and Coca-Cola.
At the time of this writing, Facebook shares are worth about $75.50, putting the company's market capitalization at just a hair below $192 billion. AT&T, which was founded in 1983, has a market cap of $185 billion, while Coca-Cola is sitting at $179.5 billion after 122 years of doing business.
It's hard to tell if the excitement is starting to wane, or if Facebook has more momentum it can tap into from its latest earnings report. On Thursday, investors sent shares of Facebook to a record high $76.74, which in turn bumped the company's market cap up to almost $194 billion (as a point of reference, IBM's market cap is $196 billion). Not bad for a firm that only has virtual assets. Though it's trading at a lower price today, it's trending upwards in the early morning hours.
In addition to Facebook's high stock price and market cap, it's the speed at which all this is taking place that's also impressive. It took Apple around 30 years to reach the point where Facebook is today (in terms of market cap), while Google needed five years. Facebook has only been a publicly traded company for a little over two years.