After Zuckerberg`s 30-min appearance, Facebook gains $6.8 billion
San Francisco: It seems like a little talk can do much wonders. After Facebook Chief Executive Mark Zuckerberg made a 30-minute appearance at a technology industry conference earlier this week, the conversation helped Facebook gain $6.785 billion in additional market valuation.
Facebook shares finished Friday`s regular trading session up 6.2 percent at $22 as Wall Street`s confidence in the company continued to improve in the wake of the 28-year-old CEO`s first public appearance since a rocky initial public offering in May.
On Thursday, Facebook was quoted as saying by a news agency that its nascent ad exchange was no longer in testing mode, and several advertising agencies reported encouraging early results using the service.
The ad exchange hints at improved monetisation potential for Facebook, said Lazard Capital Markets analyst William Bird.
The world`s No.1 online social network with 955 million users, Facebook has faced a rough debut since its May initial public offering. Investors and analysts have fretted about a sharp slowdown in its revenue growth. Shares of Facebook remain well below their $38 offering price.
The shares are up roughly 13 percent since Zuckerberg spoke at the TechCrunch Disrupt conference in San Francisco on Tuesday.
(With Agency inputs)
More from India
More from World
More from Sports
More from Entertaiment
- Trump-Sharif conversation: Team Donald denies Pakistan's claims
- Rahul Gandhi's and Congress' Twitter accounts hacked: Who's behind it?
- Rahul Gandhi's Twitter handle hacked again
- Hizbul commander Musa issues threats of attacks in new video
- Panel discussion over Mamata Banerjee's false allegations on Indian Army for political gains
- Gujarat businessman declares highest ever black money amount – Rs 13,000 crore!
- Army proves Mamata Banerjee wrong, releases letter showing West Bengal govt knew of exercise
- Rs 4.7 crore cash in Rs 2000 notes! Biggest seizure in new currency post demonetisation - What I-T recovered from Bengaluru, Chennai and Erode
- Manohar Parrikar exposes Mamata's attempt to politicise routine Army exercise in Kolkata
- Scam? 'Aam Aadmi Party using Delhi Transport Corporation to exchange Rs 500, Rs 1,000 notes'