NEW YORK (AP) — Facebook's stock is soaring after the social networking company reported stronger-than-expected results for the fourth quarter, fueled by strong mobile advertising revenue.
Facebook, which turns 10 next week, said Wednesday that more than half of its advertising revenue now comes from mobile. That's a big milestone considering it only started showing mobile ads in 2012. Investors fretted at the time that it wouldn't be able to evolve into a "mobile-first" company. The quarter's results are a sign that it has.