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Facebook's share price fell sharply after its botched flotation in 2012
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Facebook's share price fell sharply after its botched flotation in 2012Facebook shares have risen above the $38 flotation level for the first time since they began trading in 2012.
The world's largest social networking site saw its price rise 1.2% to $38.08 in early morning trading, giving the company a market valuation of $92bn,
The company's shares have been boosted since Facebook reported stronger-than-expected earnings on 24 July.
Investors have been encouraged by the fast growth of mobile advertising revenue on Facebook.
Facebook now derives 41% of its total ad revenue from mobile.
bbc.com
