Facebook shares soar on earnings, mobile gains

Facebook shares soared Wednesday after the company's earnings report showed it's making progress turning its mobile users into profits.

Shares of the No. 1 social networking company were up $4.06, or 21%, to $23.52 in midday trading as investors parsed through the third-quarter earnings report released late Tuesday.

Facebook (FB) topped earnings expectations after adjusting for special charges, by reporting earnings per share of 12 cents, topping estimates by a penny a share. The company's revenue also came in 32% higher at $1.3 billion.

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- Posted: 2012-10-24 14:59:26

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