Facebook’s market value tops $200 bln

Facebook Inc. (FB)’s market capitalization exceeded $200 billion to put it among the world’s biggest corporations. Facebook shares rose 0.8% to $77.89 apiece at close on September 9 in New York, valuing the company at $201.6 billion, according to data compiled by Bloomberg. The social network is now worth more than technology old-timers such as IBM, Intel and Oracle, as well as Toyota, Coca-Cola, and Bank of America, standing on a par with HSBC. Independent experts noted that such a roaring success was driven by rapidly developing video service sector and growing popularity of applications among smartphone owners. Here are some financial prints. Facebook’s net profit surged 138% in Q2 2014 to $791 million as compared to Q2 a year ago. Each share added a 30-cent profit. Moreover, Facebook reported a 61% jump in sales during Q2 to $2.91 billion as compared to sales revenues of $1.81 billion in Q2 2013. The total sales revenue of $2.91 billion surpassed an average estimate of $2.81 billion. It should be also noted that mobile promotions account for 62% of ad sales which amounts to $1.66 billion, up from 59% in the prior period.