Shares of Facebook hit a record high on Thursday after a surge in mobile advertising revenue helped the world's No. 1 social network trounce analysts' expectations for quarterly profit and revenue. The company's shares rose 7.6 percent to a high of $76.74 in early trading on the Nasdaq. At that price, Facebook's market value is just short of $200 billion, putting the company in position to overtake IBM Corp as the fourth-largest U.S.-listed tech company.
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