Boost in Facebook stock, easing post-IPO decline

Jun 08, 2012

(AP) — Facebook's stock got a boost Friday, easing a decline that has followed the company's initial public offering last month.

Shares of Facebook Inc. climbed 79 cents, or 3 percent, to close Friday at $27.10. The is still down 29 percent since its IPO price of $38. And it is down 2 percent for the week.

The stock price jump comes a day after research firm comScore previewed a report measuring the effectiveness of advertising on Facebook. The report also looked at other things brands do beyond paid advertising. Such "earned media" can include Facebook users sharing a post about the brand.

In a blog post Thursday, comScore said such earned media "is having a statistically significant positive lift on people's purchasing of a brand."

ComScore plans to release the findings on Tuesday.

Also on Thursday, Facebook started rolling out its App Center to users. It's a place where people can find Facebook apps recommended to them based on their interests, apps they have downloaded or apps that their friends like.

The App Center is a central location for Facebook applications ranging from games to music-listening services. said it does not compete with mobile app stores because it drives traffic to them.

Explore further: Nokia profits rise after sale of handset division

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Morgan Stanley may refund some Facebook investors

May 24, 2012

(AP) -- Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar ...

Recommended for you

Nokia profits rise after sale of handset division

7 hours ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

10 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

21 hours ago

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook 2Q earnings, revenue soar (Update)

21 hours ago

(AP)—Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

User comments : 0