Facebook Surpasses Google as Fastest Company to Reach $250 Billion Market Cap
Starting with a $104.2 billion IPO doesn’t hurt
Tony Maglio | July 14, 2015 @ 11:01 AM
Last Updated: July 14, 2015 @ 10:54 PM
Facebook
Facebook Inc. is now officially the fastest S&P 500 Index company to go from IPO to a $250 billion market valuation.
Mark Zuckerberg’s social network company closed up 2.4 percent on Monday, marking a mere three years after its initial public offering. That race to $250 billion beat the previous record holder — Google Inc. — by about five years, according to Bloomberg.
Of course, Facebook had a market value of $104.2 billion at its IPO, so quite a head start over most companies.
Facebook’s shares trade at 87 times earnings, almost five times the average in the S&P 500. Meanwhile, companies in the Nasdaq Internet Index trade at a price-earnings ratio of 27. Facebook is now the ninth-biggest company in the S&P 500.
The company closed at $90.10 per share (FB) on Monday.
Facebook topped earnings estimates in the first quarter of 2015. For the three-month period ended Mar. 31, 2015, the company’s net income was $1.19 billion, up 28 percent versus $926 million in 2014’s first quarter. Mobile advertising made up 73 percent of the social giant’s advertising, up from 59 percent at the same time a year ago.
Analysts estimate that mobile ad sales rose 37 in the second quarter. Q2 results will be reported on July 29.
Facebook 10th Anniversary: 8 TV and Movie Moments That the Social Network Made Possible (Photos)
"South Park," "You Have Zero Friends": Fed up with Facebook friend requests, Stan tries to delete himself from the social network -- and is transported to the terrifying virtual world of Facebook.
"Don Jon": After meeting but failing to hook up with Scarlett Johansson's Barbara character, Joseph Gordon-Levitt's Jon tracks her down on Facebook. And the rest is kinky, porn-drenched movie history.
"The Simpsons," "Loan-a-Lisa": During Mark Zuckerberg's cameo on the long-running animated series, Nelson meets the Facebook founder and becomes convinced he can become a success by dropping out of school. Maybe he could have started an internet company called Ha-ha-hoo.
"The Social Network." Duh; the whole thing's a Facebook ,moment.
"Hot in Cleveland," "Lost Loves": The ladies go on a hunt for their former beaus via Facebook, with hilarious results.
"The Big Bang Theory," "The White Asparagus Triangulation": Eager to keep Leonard together with his girlfriend Stephanie, Sheldon hacks Leonard's Facebook account to change his status to "in a relationship."
"Girls," "Weirdos Need Girlfriends Too": Marnie begins to come to grips with the fact that she and Charlie are through while perusing photos of him and his new girl on his Facebook page. And thus another sniff-worthy "Girls" moment is born.
"Two and a Half Men," "One Nut Johnson": Weary of women who only want to date him for his wealth, Walden sets up a fake Facebook account, posing as a pathetic schlub whose life bears a striking resemblance to that of his housemate Alan.
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From “South Park” to “Don Jon,” a handful of big- and small-screen moments we have Mark Zuckerberg to thank for
"South Park," "You Have Zero Friends": Fed up with Facebook friend requests, Stan tries to delete himself from the social network -- and is transported to the terrifying virtual world of Facebook.
