Mark Zuckerberg made some friends. Facebook shares are on track to have their biggest daily gain since the initial public offering in May. The stock rose 21 percent to $23.57 in midday trading on Wednesday. The surge comes a day after the company announced a surprising increase in third-quarter revenue from sales of mobile ads. The mobile ads accounted for 14 percent of total revenue, an increase from none a year earlier. Through Tuesday the stocks had fallen 47 percent from the IPO price of $38. Bank of America analysts wrote that Facebook “can effectively grow revenues while usage transitions to mobile platforms from [personal computers].”
Read it at The Wall Street Journal
