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Facebook shares surge as mobile ads click

31
Jan
2014

Facebook Incs shares rose as much as 17 percent to a life-high after the companys resounding revenue growth underscored CEO Mark Zuckerbergs success in selling ad space on the social networks mobile app. At least 32 brokerages raised their price targets on Facebooks shares, which touched a high of $62.50 in midday trading on Thursday. If the gains hold to close, this would be the largest single-day rise in Facebooks stock since July 2013. Facebooks fourth-quarter revenue rose to $2.585 billion from $1.585 billion in the year-ago period, beating analysts average expectation of $2.33 billion.

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