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"What a difference two years make. \nFacebook stock topped $76 a share in early trading Thursday, a new all-time high for the company and more than double its IPO price of $38 in May 2012. The company now has a market cap of $193 billion.\nSee also: 7 Charts With All You Need to Know About Facebook's Blowout Q2 Earnings\nThe stock surged more than 6% overnight following a strong second quarter earnings report thanks to continued growth in ad sales. Facebook reported revenue of $2.91 billion for the June quarter, up more than 60% year-over-year and coming in well ahead of Wall Street estimates. \n\"Facebook handily beat 2Q Street expectations, driven by strength in advertising,\" Arvind Bhatia, an analyst with Sterne Agee, wrote in an investor note Thursday. \"Results surpassed our expectations on almost every metric and the highlight was mobile advertising.\"  \nMobile ads now account for 62% of total ad revenue, up from 41% a year earlier. Facebook's success monetizing on mobile through products like app install ads helped drive up the company's total ad revenue for the quarter to $2.68 billion. \n\nFB data by YCharts\nFacebook had one of the largest and most talked about IPOs in history a little more than two years ago, but the stock quickly fell below its IPO price on concerns about the social network's ability to make the transition to mobile.\nIn it's first year as a public company, Facebook only traded above the $38 mark once \u2014 on the day of its public offering. At one point in August, 2012, with insiders cashing out, Facebook stock plummeted to half its IPO price. \nAs Facebook continued to grow its mobile user base and rev up mobile ad revenue, the stock enjoyed a steady turnaround. \nMany investors and analysts are now optimistic about other revenue streams for Facebook, including Instagram ads, video ads on Facebook and commerce activity, among other areas. On the earnings call Wednesday night, Facebook's execs stressed that each of these monetization efforts will happen slowly.\nHave something to add to this story? Share it in the comments."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2014/07/24/facebook-stock-q2-earnings/>