Facebook Shares Soar To Record High On Solid Earnings Report
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.