Facebook was one of the hottest tech IPO’s on Wall Street in 2012, and shares pretty much fizzled as investors worried about mobile ad revenue.
Fast forward two years later, and the social network is currently the best performing stock in the S&P 500.
As of July 24, 2014 Facebook stock closed at an all-time record high of $74.98.
What fueled the rally?
Its strong second quarter earnings results and reassurance the company is indeed, making a ton of cash off of mobile ads.
Here’s a closer look behind the numbers (as of June 2014):
• 1.32 billion people are now connecting on Facebook each month
• 829 million people use Facebook on an average day, up 130 million from a year ago.
• 650 million+ users access Facebook from a mobile device
• 40 minutes each day is spent on the site by Facebook’s users in the U.S.
• 80% of the 100 million Facebook users in India access it from a mobile device
• $2.9 billion is the amount of revenue the company made in the second quarter
• 67% growth in advertising revenue in the second quarter, from a year ago
• 151% growth in mobile ad revenue in the second quarter, from a year ago
• 12 billion messages are sent each day on Facebook
• 1 billion search queries are made each day on Facebook
• 30 million+ small businesses use Facebook pages to connect with their customers
• 7,185 people are employed at Facebook, up 36% from last year.
How big is Facebook?
Facebook shares have already soared 183% in the past 12 months through today’s close, the biggest rally in the Standard & Poor’s 500 Index.
That’s according to data compiled by Bloomberg, which also said the social network is now neck-and-neck in market capitalization with blue chip staple, IBM.