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Facebook stock soars to record high

Published January 30, 2014 9:37 am
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New York • Facebook's stock is soaring after the social networking company reported stronger-than-expected results for the fourth quarter, fueled by strong mobile advertising revenue.

Facebook, which turns 10 next week, said Wednesday that more than half of its advertising revenue now comes from mobile. That's a big milestone considering it only started showing mobile ads in 2012. Investors fretted at the time that it wouldn't be able to evolve into a "mobile-first" company. The quarter's results are a sign that it has.

At the end of 2013, more than three-quarters of Facebook's 1.23 billion users — 945 million — logged in using their mobile devices at least once a month.



Facebook's stock is up $8.77, or 16 percent, to $62.30 in midday trading. It hit a record high of $62.44 earlier.

 

 

 

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