Facebook Inc. rose to the highest price since May 2012, the month of its initial public offering, amid optimism that the world’s largest social network can bolster sales from mobile advertising.
Facebook Inc. reported a plunge in fourth-quarter profit on higher spending, even while it made long-awaited progress luring advertisers eager to reach mobile-device users.
Facebook Inc. Chief Executive Officer Mark Zuckerberg is reaping benefits of a deeper push into mobile advertising at the social network he founded almost a decade ago.
