Facebook shares are climbing as “a result of its momentum in mobile,” he told MarketWatch. Once considered a serious weakness in Facebook’s business, mobile had steadily become its strength. As of the second quarter, mobile represented 41% of Facebook’s total advertising revenue, up from 30% in the first quarter.
And Facebook may be just getting started, Rice added.
“I would also highlight that we are still in the early growth stages for Facebook,” Rice continued.