Facebook (NASDAQ:FB) Stock soars to Six Month High Level on Mobile Ads Growth

Facebook Inc’s (NASDAQ:FB) stock moved up to record high in 6 month as forecasts for mobile-advertising gains alleviated fears that dragged down stock of world’s biggest social network this year after its initial public offering.

Shares of Menlo Park, California based Facebook surged 1.3% to settle at $31.72 in New York and marked the record high level since July 9. Shares of the company have rebounded 79% from a lowest price in September.

JPMorgan Chase & Co’s (NYSE:JPM) analyst Doug Anmuth reported in a research report on Friday that Facebook is still in the early stages of developing ads for users who access company’s social network via mobile gadgets instead of desktops.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. AOL, Inc. (NYSE:AOL) rose +0.20% to settle at $29.82, SINA Corp (NASDAQ:SINA) moved up +1.38% to end at $54.97 while Electronic Arts Inc. (NASDAQ:EA) jumped +1.71% to finish at $14.24 on Friday.

Facebook Inc (NASDAQ:FB) last session’s volume of 89.60 million shares was higher than its average volume of 31.96 million shares. The stock after opening at $31.28 hit high price of $31.36 and then closed at $31.72 by scoring +1.34%.

FB generated revenue of $4.64 billion in the previous twelve months and earned $195.00 million. The Company showed a positive 6.24% in the net profit margin as well as in its operating margin which remained at 12.13%.

The FB’s past twelve months’ price to sales ratio was 14.83 and price to cash ratio remained 6.57.

The stock showed weekly upbeat performance of 10.29% which was maintained for the month at 13.37%. Likewise the positive performance for the quarter was recorded as 56.80% and for the YTD performance remained at 19.16%.

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