Facebook shares soared 30 percent on Thursday after the social media giant pushed aggressively into mobile advertising and reported much-improved second-quarter revenue and profit.
The stock is trading at levels not seen since shortly after Facebook's initial public offering last year. The IPO was plagued by nagging questions about whether the world's biggest social network could follow users on to the mobile phones and tablets that have upended the technology sector.
Facebook began showing mobile advertisements for the first time last spring. It reported after the market closed Wednesday that those ads accounted for 41 percent of its total advertising revenue in the most recent quarter.