Facebook's stock nearly returned to its IPO price for the first time since the company went public on May 18, 2012
The stock hit $37.96 a share in late trading Tuesday, an increase of more than 7% on the day, following an impressive second quarter earnings report last week, which showed better-than-expected progress on mobile user growth and monetization.
Facebook now has more than 800 million monthly active mobile users and mobile ads account for 41% of the company's total ad revenue, up from 30% in the first quarter and effectively nothing a little more than a year ago. Wall Street had expected mobile ads to account for about a third of total ad revenue Read more...
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