Facebook has crossed the mobile chasm. At least, that's how fickle Wall Street is viewing the social network's earnings beat: On Wednesday Facebook reported $333 million in quarterly profit versus a $157 million loss in the same quarter last year. Mobile ad revenue surged from 30 percent of overall sales in the first quarter of 2013 to 41 percent in the quarter ending June 30. Facebook stock was up 25 percent in early trading Thursday.
Mark Mahaney, a Facebook watcher with RBC Dominion Securities, said the company has reached an "an inflection point." He, and many … Read more