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Facebook shares jump as Zuckerberg remains optimistic

CNNMoney - Sep 12, 2012

Facebook shares rallied almost 8% and closed at a 1-month high Wednesday, a day after CEO Mark Zuckerberg took an upbeat tone during his first public appearance since the company's botched stock market debut in May.

"I am really optimistic about our mobile monetization strategy," Zuckerberg said during an interview with TechCrunch founder Michael Arrington at the tech blog's Disrupt conference in San Francisco Tuesday.

The CEO cited the social media platform's high volume of mobile users, and their high engagement levels. And he added that the early results of its recently-launched mobile ad units are promising: "Those mobile ads perform better than the regular column ads on desktops."

Wall Street liked what it heard.

"We came away from Mark Zuckerberg's first public presentation since the IPO incrementally more positive on his ability to manage Facebook's mobile transition and to bring to fruition the optionality we see embedded in the platform," said Victor Anthony, analyst at Topeka Capital Markets. "His comments taken together give us confidence that Facebook should monetize mobile in a big way in 2013-2014."

Read Full Article from CNNMoney

- Posted: 2012-09-12 23:20:59

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