Facebook Inc (FB) Passes $50 Per Share
Facebook Inc (NASDAQ:FB) has surpassed $50 per share for the first time today. Facebook hit the milestone earlier today. The company’s stock has increased 87% from what the stock price was at the beginning of the year. The stock is now 32% above the IPO price.
This is quite a recovery from the time that they dropped lower than $20 per share shortly after going public in May 2012.
Facebook’s advertising business has been increasing at a rapid, especially the mobile version. When Facebook went public, most of their ad revenue was from users that access the social network from personal computers.
This past July, Facebook said that mobile ad revenues accounted for 41% of their total sales for the second quarter. Next month when Facebook announces their third quarter earnings, investors are expecting even more mobile revenue growth.