Facebook Inc.'s (Nasdaq: FB) Market Value Jumps To Nearly $155 Billion On Strong Earnings Report

  @MeaganKaym.clark@ibtimes.com on January 30 2014 1:35 PM
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After the bell on Wednesday, shares of Facebook Inc. (NASDAQ: FB) jumped over 7 percent in extended-hours trading after the company reported fiscal fourth-quarter earnings rose 83 percent to $780 million, or 31 cents a share, as revenue increased 63 percent to $2.59 billion, compared with a profit of $426 million, or 17 cents a share, on sales of $1.59 billion a year ago. Reuters

The market capitalization of Facebook Inc. (NASDAQ:FB) soared to more than $150 billion Thursday in mid-afternoon trading, as its shares rose nearly 16 percent to more than $61 after the company reported earnings above Street expectations.

Before the adjusted fourth-quarter earnings announcement on Wednesday, the social network company’s market value sat at about $135 billion. The $20 billion increase boosted Facebook’s market value past Citigroup Inc. (NYSE: C), valued at $145 billion.

For comparison, Twitter Inc.’s (NYSE: TWTR) market cap is about $38 billion, Google’s (NASDAQ:GOOG) market cap is about $380 billion, and Apple Inc.’s (NASDAQ:AAPL) is $450 billion, the highest market cap in the world.

In the fourth quarter -- and for the first time -- more than half (53 percent) of Facebook’s revenue came from mobile ads. Mobile usage of Facebook increased 39 percent from the year-earlier period to 945 million users. The percentage of monthly users who log into their Facebook accounts every day also increased, to 757 million people or 62 percent of all monthly users, 1.23 billion people.

But there’s plenty of room to grow, according to Facebook’s CEO and Co-founder Mark Zuckerberg.

On the conference call to analysts, Zuckerberg said, “We’re still a small part of the world’s population.”

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