Facebook’s efforts to figure out how users want to connect when they’re on the move is paying off.
According to the social network’s latest earnings report released Wednesday, mobile is carrying the company, pushing it to record fourth-quarter results.
Investors were pleased, and the stock price surged 15.5%, closing Thursday at $109.11 a share.
It’s an impressive pivot for Facebook, which a few years ago struggled to figure out its mobile strategy and listed it as its biggest challenge. In 2012, when Facebook co-founder and CEO Mark Zuckerberg was trying to sell potential investors on his company prior to its IPO, he had to admit they hadn’t figured out a way to monetize mobile. In an amended filing with the U.S. Securities and Exchange Commission, the company even said mobility was one of Facebook’s biggest risk factors.