Facebook Stocks Reach Record High
So about those reports that they're losing teens ...
Facebook's stock soared to a record high of $62.50 in midday trading Thursday, lifted by a wildly better-than-expected fourth-quarter showing, especially when it comes to clocking mobile advertising revenue.
The giant social network, which turns 10 next week, said Wednesday that for the first time, more than half of its ad revenue came from mobile. And, at the end of 2013, more than three quarters of Facebook's 1.23 billion users logged in using their mobile devices at least once a month.
Facebook Chief Executive Mark Zuckerberg proudly declared on the earnings call that his is a "mobile company."
The shift to mobile was "not as quick as it should have been," Zuckerberg told Business Week, but "one of the things that characterizes our company is that we are pretty strong-willed."
