Facebook Inc (FB) market value hits almost $150 billion
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Facebook Inc (NASDAQ:FB) stock opened at around $62.10 per share today and closed at $61.08. Today is the first day that Facebook crossed the $60 mark. Facebook’s fourth quarter earnings beat Wall Street estimates, which is why the stock shot up. Facebook reported on Wednesday that their ad revenues grew 76% year-over-year at $2.34 billion. Mobile ads accounted for 53% of total ad revenue. Facebook now has 945 million monthly active users and is nearing the one billion milestone. Facebook’s stock increased by over $20 billion overnight and is now close to $150 billion.