Bangalore: Facebook Inc’s shares saw the biggest one day leap on Wednesday following company’s surprising rise in mobile advertisements; clearing the air about its trouble in capitalizing on the soaring  Smartphone and tablet platforms.

Facebook shares were up by 21 percent at $23.55 in afternoon trade, the biggest ever for the company after its IPO opening, which on the contrary was a debacle with share value falling to $17.55 from $38. It also added respite to the investors who were fretting about company’s slow growth. 

Facebook, defying skeptical analysts, reported that it now gets 14 percent of its advertising revenue from mobile ads. Needham & Co analyst Laura Martin said the company has opportunities to gain revenue by branded advertising, as top brands increase their association with the company in some form.

The world’s largest social networking site had surpassed the mark of 1 billion active users in September, but the company failed to dispel doubts about its mobile strategy, something which was big on investors mind. Facebook CEO Mark Zuckerberg, who himself lost billions on paper since company’s debut into IPO, said on Thursday that the mobile opportunity was “the most misunderstood” aspect of company’s business strategy.  

"In baseball parlance, Facebook hit two doubles; advertising revenue growth accelerated for the first time in at least six quarters (maybe more), and mobile revenues are moving the needle positively following the launch of new ad formats," Robert W. Baird & Co analyst Colin Sebastian wrote in a note.

Zuckerberg hinted in September that the company was halfway through to retool and offer new advertising products, which analysts predict, once they are online, will add to the revenue of the company.

Facebook’s huge user data base, and growing expertise on mobile advertising will drive mobile monetization for the company, said Sebastian, a stock analyst, who rated “outperforming” for company’s recent performance for reaching prize target of $32.

1.2 billion Shares will be available for trading on November 14, but Zuckerberg will not be able to offer the shares until then.