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Facebook Shares Rise Following CEO’s Comments
SAN FRANCISCO Facebook Inc. saw its shares rise in after-hours trading on Tuesday after CEO Mark Zuckerberg said he has been disappointed with the performance of the company’s stock, but touted the social network’s improving mobile ad business. In an on-stage interview at the TechCrunch Disrupt conference in San Francisco, Zuckerberg predicted that Facebook will someday “make a lot more money on mobile than we do on desktop,” referring to its core advertising business. But the company’s shares have fallen nearly by half since its May IPO at $ 38. “It doesn’t help,” Zuckerberg said in response to a question about morale at the company since the IPO, but added that “I actually think it’s a great time for people to join, and a great time for people to stay and double down” on Facebook. The stock was trading up more than 3% in after-hours trades to $ 20.