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Facebook's stock hits $37.96 per share, almost at IPO level

Facebook announces new game distribution platform and stocks rise 7 percent to $37.96 per share (NASDAQ:FB)

| Social Networking News | Posted: Jul 31, 2013 2:02 am

Today, Mark Zuckerberg has to be celebrating as his company's stock hit $37.96 per share in late trading on Tuesday. That equates to an increase of more than 7 percent for the day. The jump in share price comes after the company posted impressive second quarter earnings last week, which derived from better-than-expected mobile growth.

 

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Facebook says that it now has more than 800 million active monthly mobile users and that mobile ads are accounting for more than 40 percent of the company's ad revenue. This is up from 30 percent the previous quarter and more than triple what it was during the previous year. The rise in stock price can also be attributed to the social network's new program announced today for game publishing in which it will help distribute games from small- and medium-sized developers and in turn collect some of the profits for itself.

NEWS SOURCE
News.cnet.com

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