Facebook stock within reach of original IPO launch price

31 Jul 2013

Social network Facebook is a few cents just cents short of its US$38 IPO price from May last year.

At the time of writing Facebook’s Nasdaq stock price was at US$37.98.

Last year the social network launched its stock on Nasdaq but the share price fell below US$20.

The surge in the social network’s share price performance was led in recent days by robust second quarter financial results where 41pc of the company’s US$1.8bn revenues came from mobile devices.

For the second quarter, Facebook also recorded a profit (GAAP) of US$333m, compared with a loss of US$157m in the year-ago quarter, just shortly after going public in its IPO in May 2012.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years