Apparently pokes and Likes beat e-commerce and drones.
Facebook is now more valuable than Amazon, at least by market value. Facebook’s market cap topped $170 billion this week, while Amazon’s market cap has dipped below $165 billion, according to data provided to Mashable by FactSet Research.
The social network’s stock hit a new high this week, following a strong December quarter earnings report, in which it handily beat revenue estimates and revealed that mobile ad revenue now accounts for the majority of total ad revenue. Amazon stock slumped after reporting earnings for the fourth quarter that were far below Wall Street estimates.
Facebook went public in May, 2012
with a market cap of around $100 billion, but the stock quickly fell to less than half its IPO price, pushing the market cap below $50 billion. The stock rebounded in 2013 as Facebook proved its ability to make the shift to mobile. Facebook officially became a$100 billion company again in August and the stock has continued to tick up since then.
As the data from FactSet shows, Facebook now has a higher market value than a number of other established tech companies, including Intel, Cisco and Qualcomm. Though Facebook’s market value may be higher, its actual business still has a way to go. Facebook generated $7.8 billion in the 2013 fiscal year. Amazon, by comparison, generated nearly three times that amount just in the fourth quarter.
Here is another chart showing just how quickly Facebook’s market cap has climbed relative to Amazon: