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May 28, 2017

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Zuckerberg's nod to finances gives a boost to Facebook's battered stock

NEW YORK--Facebook's battered stock rose Wednesday after CEO Mark Zuckerberg acknowledged that the social networking company cares about making money as well as making the world "more open and connected."

Zuckerberg gave his first interview Tuesday since Facebook's rocky initial public offering in May. The stock has lost roughly half its value since. But on Wednesday it gained US$1.53, or 7.9 percent, to US$20.96.

"He explained past missteps and challenges related to mobile and provided reasons for related optimism," wrote S&P Capital IQ equity analyst Scott Kessler in a note to investors.

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