In after-hours trading today, investors rewarded Facebook with a rising share price after it reported stronger than expected revenue.
The company reported that it earned $0.31 per share, and had revenue in the quarter of $2.59 billion. As reported earlier, the analyst set had predicted that Facebook would earn $0.27 on revenue of $2.33 billion. The earnings beat sent the company’s stock up 5 percent in moments.
Facebook has since risen more than $6 per share, and is still up more than 12 percent in after-hours trading.
The company briefly passed the $60 mark in its post earnings frenzy, though it has since ceded back ground and fallen below the mark. According to Google Finance, before today, Facebook’s 52 week high was $59.31. Given Facebook’s prior ranges outside of that period, we can assert that Facebook traded over the $60 per share threshold in its history.
Essentially Facebook has never been more richly valued than it is at the moment. Using a non-diluted share count, Facebook’s market capitalization is creeping up on the $150 billion mark.
In another milestone long in the making today, Facebook reported that it now generates the majority of its advertising dollars from mobile. Mobile fears brought the company’s share price down, and mobile strength has brought them back and pushed them higher.
Facebook faces concerns regarding its user base along certain demographic lines, but at least for today, the company can rest easy.