Facebook Shares, edged up more than 3%, beating its previous record of $45 in May 2012. The largest social network is valued at $106 billion, as investors focus on the new mobile advertising gains and potential to increase its ad revenue.
The social network’s stock rose 3.3% to $45.05.
On Wednesday, the Chief Executive of Facebook, Mark Zuckerberg spoke at the technology conference in San Francisco and said the IPO process had assisted the social network to grow stronger.
“Having gone through what I think most people would characterize as an extremely turbulent first year as a public company, I can tell you I actually don’t think it’s that bad,” said Zuckerberg.
Investors have reacted positively towards the company’s improved stock figures and the company’s efforts to improve its mobile advertising revenue as it rose by 75% in the second quarter, as it reached analysts estimates.
Facebook have previously lost its value when it made its stock debut on the Nasdaq exchange in May, 2012, In which the company traded at $38 per share. The company has made efforts to improve and grow its revenue by expanding its mobile advertising, which have attracted more users and investors.
The company’s shares have advanced 60% higher since July with a better-than-expected earnings reported.
Facebook said it’s expecting its mobile advertising to exceed revenues from desktop ads, the mobile advertising made up 41% of its total revenue.
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