SUMMARY
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For the first time since Facebook Inc began trading in May 2012, shares have risen above its US$38 initial public offering price. Values rose to as high as $38.31 on Wednesday, the last day of July. On an upward trend since releasing earnings a week ago that showed a jump in mobile advertising revenue, Facebook shares have rallied more than 40% since then. Most of the recent earnings report showed 41% of its ad revenues coming from mobile, up from 30% in the previous quarter, and almost nothing from 2012. Just 3 months after flotation, share prices collapsed to $18 over fears of a lack of mobile strategy and slowing revenue growth.
Read the full story on Rappler.
Additional details are on the BBC.
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