Facebook Stock Jumps After Zuckerberg’s Comments
On Tuesday evening, Facebook CEO Mark Zuckerberg made his first public speaking appearance since the company’s IPO. Investors seemed to like what he had to say, because the company’s shares jumped as much as 7.7% in Wednesday trading.
Zuckerberg spoke at the TechCrunch Disrupt event, in an interview with Michael Arrington. The biggest take away we got from it was that Facebook is doing search, which could mean really big things for investors down the line.
“We’re basically doing 1 billion queries a day and we’re not even trying,” Zuckerberg is quoted as saying.
He’s also quoted as saying, “Facebook is pretty uniquely positioned to answer the questions people have. At some point we’ll do it. We have a team working on it,” and “Search engines are really evolving to give you a set of answers, ‘I have a specific question, answer this question for me.’”
He also indicated that Facebook will be making a lot more money on mobile than on desktop. He’s quoted as saying, “We’re going to execute this mission to make the world connected and build value over the long-term. The bigger question that will define how we’ve done is how we do with mobile.”
According to Zuckerberg, mobile users are more likely to be daily active users.
Of course, Apple’s iOS 6 is about to be pushed to users, and that comes with a nice dose of Facebook integration, which should be huge for Facebook mobile engagement.
As of the time of this writing, Facebook shares are at 20.81 -0.12 (-0.58%).