Facebook CEO Sees Bold Moves as Revenue Beats, Shares Rise
- Proposed new share class to give CEO more freedom for big bets
- Zuckerberg seeks to keep control, sees 'more bold moves ahead'
Facebook 1Q Sales, Profit Beat Analysts' Estimates
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Facebook Inc.’s Chief Executive Officer Mark Zuckerberg picked a good time to ask for more freedom.
The company reported sales and profit that blew past analysts’ estimates, fueled by businesses spending more to advertise in videos on its main mobile app. It was the latest in a string of strong earnings that have built up investors’ confidence in the company’s future. They responded by bidding up the shares as much as 11 percent Thursday, rising to the highest they’ve ever been since the 2012 initial public offering.