While you were sleeping Facebook mobile ads surprise

Thu, 25 Jul 2013

By Margreet Dietz July 26 (BusinessDesk) - The Nasdaq Composite Index advanced, bolstered by a surge in the shares of Facebook as better-than-expected earnings brightened the outlook for the social media company. Shares of Facebook soared, last up 27.3 percent, as the company posted earnings that exceeded expectations helped by sales of mobile advertising. At least 16 brokerages raised their price targets by as much as US$9 per share, according to Reuters. "FB's massive audience should be irresistible to brand advertisers as the company prep...

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