Facebook stock hits record high

Jul 24, 2014, 2:29 AM EDT
The logo of social networking website 'Facebook' is displayed on a computer screen in London, 12 December 2007.
AFP/Getty Images

Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday. The world's No.1 Internet social network said on Wednesday that it saw increased interest from both advertisers and from users during the second quarter, while the company's profit margins expanded.
Background:
Facebook beats Wall Street targets, stock hits record high [Reuters]
Facebook posts second-quarter revenue, profit topping estimates [Bloomberg]

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