Facebook Inc (NASDAQ:FB) pleasantly surprised the Street last week when it came up with better than expected results. Not only did the company demonstrated a growth in revenues and earnings, but also in mobile advertising revenues, which up until last year was perceived as a major problem area for Facebook Inc (NASDAQ:FB) in terms of monetization.
Facebook Inc (NASDAQ:FB)’s stock price has also moved in tandem with the growth of the company’s earnings, trading comfortably above the $70 level, ever since the company declared its second quarter earnings. The market cap of Facebook Inc (NASDAQ:FB) has surpassed some of the biggest names on Wall Street.
On today’s edition of Bloomberg’s ‘Single Best Chart’, Bloomberg correspondent, Scarlet Fu discussed the growth in Facebook Inc (NASDAQ:FB)’s market cap comparing it with some other ‘big shot’ companies.
“Facebook Inc (NASDAQ:FB) had a banner week last week after the company’s blow out second quarter results. Investors certainly liked what they heard and sent the stock up soaring and as a result, if you look at the market cap of Facebook Inc (NASDAQ:FB). It’s approaching 200 billion dollars. That would make it a bigger company by market cap than, say, Coca Cola, Intel or Disney,” Fu said.
Fu also mentioned that Facebook Inc (NASDAQ:FB) was very closing to surpassing the market cap of International Business Machines Corp.(NYSE:IBM). Therefore, those who said that Facebook Inc (NASDAQ:FB) will never be able to make it, it will never be able to make the transition to mobile are being proved wrong.
“It’s almost double the market cap either way of what it was worth when it debut a little over two years ago,” Fu added.
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