Facebooks’s shares had a shaky start in 2012 on the day they were listed on New York’s Nasdaq stock exchange, but have jumped from $38 then to over $62 on Tuesday.
That puts the estimated net worth of founder and boss Mark Zuckerberg at around 30 billion dollars (22 billion euros).
Facebook says it has 1.23 billion active users.
The website is worth $156.7 billion.
Its revenues jumped 55 percent last year, to almost $7.87 billion while profits grew sevenfold, to $1.5 billion.
One reason the share price suffered was investors feared Facebook was too PC-centric and could not make money from mobile phones and tablets – something that proved to be unfounded, for now:
Rick Summer, an equity analyst with Morningstar, says a lot depends on how much people continue to call up Facebook on their smartphones: “Their ability to monetise is strictly being driven by the fact that users want to go and use that application, and that is very compelling as long as we think users are going to continue to use that application five and 10 years from now and ultimately that ends up being the largest question on the stock.”
Another investor worry is that young users are abandoning the site in droves, turning to other hipper, social media where their parents are not subscribers.
Facebook’s one billion dollar purchase of Instagram in 2012 gave an idea where it sees its future – focused on mobile.
Indeed its mobile advertising revenue recently overtook its money from desktop ads.
Not surprising when you consider that four out of five of its monthly users access the service on a smartphone or tablet.
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