Facebook has finally impressed investors. The social networks pricing rose above $33 per share on Thursday, the highest per share price since the company went public in May 2012.
The social networks share pricing increased by 30% overnight as Facebook beat earnings and revenue estimates for Q2 2013.
The company’s most impressive numbers came in the form of mobile growth. Monthly active users on mobile increased 51% year-over-year to 819 million. Zuckerberg and company announced that mobile ads now account for 41% of Facebook’s total revenue,
Last year Facebook’s mobile ad revenue was almost non-existent and analysts for the past quarter had expected only 33% total revenue for the quarter.
Sterne Agee, an analyst for Arvind Bhatia wrote in an investor note on Thursday:
“This quarter helps cement the bull thesis and underscores how successful FB’s transition to mobile has been. Over the long term, advertising dollars always seem to follow eyeballs and FB has plenty of eyeballs.”
The last year has been a rollercoaster ride for Facebook as investors continue to second guess the world’s largest social network. Shares at Facebook climbed slighting above $32 in January only to plummet to $17.55 at their low-point.
The new per share pricing added $15 billion to Facebook’s market cap in a single overnight period.
Mark Zuckerberg’s 609.5 million as of March 31 place his personal wealth at approximately $16.2 billion. Zuckerberg earned $4 billion overnight thanks to investor enthusiasm for Facebook’s future.