Dallas, Texas 07/30/2013 (Financialstrend) – Facebook Inc (NASDAQ:FB) gained around 30% in one day primarily owing to the rapid growth in revenues from mobile advertising. In the last few years, the company had not been generating any revenues in its business segment of Mobile advertising. But with the recent developments in the market for these ever expanding mobile phones, Facebook had proven successful to attract its users through its innovatively and efficiently designed mobile advertisements.
The company had recently presented its financial performance results for the quarter that ended on June 30, 2013 and the market had received the news strongly in the positive mode. The strong growth in revenues and earnings per share posted by the largest social networking site provider had proved to recover the confidence of the investors. Further the company’s ability to effectively tap the market share in the mobile advertising business segment to generate considerable revenues had also led the stock to gain by more than 30 percent in price on a single day. The trading volumes had also been huge on this popular stock to further support this surge in prices.
The share of Facebook Inc (NASDAQ:FB) was up by 4.18% on Monday to close down for the day with $35.43 per share. The company had recorded the trading day low price of $34.01 and high price of $35.63 on Monday. For the last twelve months of trading, the low price of the stock is at $17.55 and high price of the stock is at $35.63 per share. Currently there are 2.41 billion shares of the company outstanding in the market and 34% institutional ownership. The trading volume of the company on Monday was 124.88 million shares and the trading volume over the past 30 days of the company was 47.78 million shares per day. The total market value of the company is 85.42 billion.