More Than A Year After IPO, Facebook Nears The Debut Price

By SiliconIndia   |   Wednesday, 31 July 2013, 10:18 Hrs
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Facebook ad revenue

Bangalore: More than a year after its Initial Public Offering, Facebook for the first time is nearing the value it promised the stakeholders at the time of debut. The social networking giant’s share values rose 6.2 percent to reach $37.61 at Nasdaq on Tuesday, pennies less than its IPO price of $38.

The numbers reflected enthusiasm of investors, following the stronger-than-expected earnings of the company in its recently announced quarterly results. Facebook, which once went through a rocky IPO and invited criticism following its inability to monetize on the mobile, is currently generating 41 percent of its ad revenue from the platform.

Out of the 1.15 billion monthly users of the website, 819 million access the site through mobile devices. The revenue for the quarter that ended June 30 reached $1.81 billion, a 53 percent rise from the same period a year ago.

Facebook had also announced about its entry into the business of publishing mobile games during the call. As the company is increasing its foothold in the platform generating huge mobile ad revenues and as the number of people accessing the website from mobile and tablet is on the rise, investors are looking forward to a bright future.   

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