Thursday, January 30, 2014
Monster Day For Facebook Stock
Been a monster 20 hours for Facebook. After hours trading was unreal and today is shaping up to be a record day. Stocks have surged to over $62.00 a share up over 16% today.
Didn't someone say Facebook was dying?
Profits reached $523 million, up from $64 million a year ago, the company said. Mobile usage of the site continued to grow, with monthly mobile active users growing to 945 million, a 39 percent increase from a year prior. Mobile ad revenue reached 53 percent in the fourth quarter and for the first time comprised more than half of Facebook’s total advertising business. Overall, the site now has 1.23 billion monthly active users and 757 million daily active users.
The strong earnings report capped an impressive 2013 in which Facebook fully recovered from a botched IPO in 2012 that tanked its stock for months. For all of 2013, Facebook generated $7.9 billion in total revenue, a 55 percent increase from 2012. Profit for the year totaled $1.5 billion, compared to just $53 million in 2012. The company added 172 million monthly users and 139 million daily users. By comparison, Twitter enjoys 232 million total monthly users, and LinkedIn has 259 million.