Facebook soars as Zuckerberg’s cash machine kicks into gear

Two years ago, it wasn’t clear Facebook would ever make money on mobile ads. Right now, it has 17.7 per cent of the market and that’s going to grow to 22 per cent this year. More than 800 million people used Facebook every day last quarter. That’s 14 per cent of the world. Facebook stock jumped to record highs Thursday as strong earnings from the leading social network sparked fresh buying.

Facebook’s setup ad growth rate today looks very much like what Apple created a decade ago when iTunes fuelled the revolution.

Jeff Macke, Yahoo Finance correspondent