Record for Facebook shares as mobile revenues soar

Facebook shares rose to a record as the social network caps a year in which mobile advertising increased and marketing initiatives expanded with applications and video.

This year Facebook made further headways in mobile, a business that has flourished from a minor portion of ad revenue at the time of the IPO to a majority.

Acquisitions have also been paying off: A Citigroup analyst last week said Instagram, the photo-sharing app Facebook bought for $1bn (€816m) in 2012, is worth $35bn.