Facebook Shares Surge to Record as Mobile Ads Fuel Gains
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Mark Zuckerberg is staring down naysayers who hammered Facebook Inc.’s stock after its debut two years ago, as shares surged to a record today.
Facebook rose 5.2 percent to $74.98 at the close in New York, above its previous high of $72.03 set in March and pushing the company’s market capitalization to almost $200 billion. Fueling the rise: The social network showed again that mobile advertisements are powering revenue and profit.