Facebook stock prices rise

Facebook stock prices rise

POSTED: Wednesday, October 24, 2012 - 9:30am

UPDATED: Wednesday, October 24, 2012 - 10:27am

Facebook's revenue is up and so is the stock price.

The social media giant posted third quarter earnings of $1.26 billion, which is a 32 percent jump from last year.

Gains in mobile advertising were bigger than analysts' expectations.

Facebook stock closed up nine percent yesterday at over twenty one dollars a share; however, that's still below its initial stock price of $38 per share back in May.

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