Facebook shares soar as mobile strategy bears fruit
The company shares are up nearly $7 in early trading after Facebook posted a strong quarter.
Facebook's mobile push over the last year is paying off for shareholders.
In early trading Thursday, the company's shares are up more than 25 percent to $33.20. At that level, Facebook's stock is near its 52-week high of $34, and far from its low of $17.55.
The social network's significant jump comes the. According to Facebook, which announced its earnings Wednesday, it now has 819 million monthly mobile users -- a 51 percent increase compared with the same period a year ago. As of June 30, the company had 1.15 billion monthly users and over 1 million active advertisers that helped the company generate $1.81 billion in revenue -- a 61 percent jump.
We will update this story throughout the day as trading continues.
Correction at 8:05 a.m. PT: The 819 million users are mobile users, and that number is up 51 percent from a year ago.