Facebook Passes IPO Mark, But Is More Growth Ahead?
The roller coaster ride for Facebook (NASDAQ:FB) ended Friday after stock surpassed its elusive IPO price, edging that mark to close at $38.05 in New York. After soaring 30 percent in late July on its spectacular revenue growth, Facebook has won back the confidence of investors. The social media giant has proven its mobile strategy is working, and many are pointing to the potential for far more growth.
In less than one year, Facebook has restored its position in the markets and proven it deserves a valuation of $100 billion. The shift came in the company’s ability to solve the mobile device conundrum. A look at the figures says Facebook has turned its weakness in the mobile sphere into a strength.
Mobile ad revenue accounted for 41 percent of the company’s total ad take in the second quarter, a jump of 30 percent compared to the quarter prior and, more importantly, a 100 increase compared to the year prior, when the company mobile ad take was nil. As Bloomberg pointed out, that has investors thinking CEO Mark Zuckerberg is a leader to stand behind.