Today, like yesterday, is a good day for Facebook.
The social networking company’s stock climbed by more than 14 percent upon opening this morning, following unusually strong quarterly results. That movement reportedly makes founder Mark Zuckerberg the “sixth-richest person” in the world.
The cause for the spike is simple: Facebook exceeded Wall Street’s expectations on every count for its fourth fiscal quarter, bringing in $5.8 billion in revenue and $0.79 earnings per share, while proving yet again that its mobile woes — the company’s mobile strategy was once deemed risky by the SEC — are a thing of the past. For the quarter, 80 percent of Facebook’s ad revenue came from mobile ads alone.