Facebook stock jumps on the back of soaring quarterly ad revenue

Facebook stock jumps on the back of soaring quarterly ad revenue (Matt Rourke/AP)

Facebook’s stock jumped into record territory on Wednesday after the social media giant reported stronger-than-expected results for the first quarter thanks to soaring ad revenue.

Chief executive Mark Zuckerberg said the extra money means the company will invest more in new areas of potential growth — including augmented and virtual reality, commerce, business messaging and content creators, such as people who make videos, write newsletters and host podcasts.