Facebook passes IPO price for 1st time since IPO (Update)

Jul 31, 2013

Facebook's stock price has passed its $38 IPO price for the first time since its rocky initial public offering more than a year ago.

Shares of Facebook Inc. are up 1.2 percent to $38.08 in morning trading Wednesday.

The world's biggest online social network has been on a roll since reporting stronger-than-expected earnings on July 24. Investors are especially upbeat about its fast-growing mobile advertising revenue.

Facebook's ability to grow mobile revenue was one of the biggest concerns in the weeks leading up to its IPO last year. Investors were worried that its ad business was not migrating to mobile gadgets as quickly as its user base.

Facebook now derives 41 percent of its total ad revenue from mobile advertising. That's up from zero in the spring of 2012.

Explore further: Facebook shares rebound from dismal IPO

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Facebook shares rebound from dismal IPO

Jul 30, 2013

Facebook shares on Tuesday nearly climbed their way back to the $38 mark from which they plunged after a dismal debut in the stock market last year.

Facebook to hold press event, stock passes $30

Jan 09, 2013

Shares of Facebook are pushing above $30 for the first time since July after it sent out invitations to "come and see what we're building" Tuesday at its headquarters in Menlo Park, Calif.

Facebook jumps on biggest lock-up expiration day

Nov 14, 2012

(AP)—Facebook's stock is up more than 7 percent despite expectations that it would fall because more than 850 million additional shares in the company are being freed up for sale.

Recommended for you

Weibo IPO below expectations, raises $285.6 mn

3 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

4 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

4 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

IBM posts lower 1Q earnings amid hardware slump (Update)

14 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exacerbated by weaker demand in China and emerging markets.

User comments : 0

More news stories

Sony's PlayStation 4 sales top seven million

Sony says it has sold seven million PlayStation 4 worldwide since its launch last year and admitted it can't make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant.

Robotics goes micro-scale

(Phys.org) —The development of light-driven 'micro-robots' that can autonomously investigate and manipulate the nano-scale environment in a microscope comes a step closer, thanks to new research from the ...

Biologists help solve fungi mysteries

(Phys.org) —A new genetic analysis revealing the previously unknown biodiversity and distribution of thousands of fungi in North America might also reveal a previously underappreciated contributor to climate ...