Shares of social networker Facebook (NASDAQ:FB) have put up their biggest daily gain, up by as much as 24% at the high, after the company reported earnings last night. Facebook's IPO was back in May, so this is the biggest daily jump the company has seen over the past five months.
The optimism comes after Facebook reported third-quarter results last night, and its figures were boosted by strong performance in mobile advertising, which has long been considered a weakness for the company. Facebook said that 14% of advertising revenue last quarter was generated from mobile, and that mobile monthly active users, or MAUS, were up 61% from last year to 604 million.
While shares remain well below the IPO price of $38, today's jump certainly helps Facebook investors recoup some of their losses. Relative to its all-time low of $17.55 set last month, Facebook shares have rebounded by 38%, with much of that coming from today alone.
Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool owns shares of Facebook and has the following options: long JAN 2014 $20.00 calls on Facebook. Motley Fool newsletter services recommend Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.