31 July 2013 Last updated at 10:20 ET
Facebook's share price fell sharply after its botched flotation in 2012
Facebook shares have risen above the $38 flotation level for the first time since they began trading in 2012.
The world's largest social networking site saw its price rise 1.2% to $38.08 in early morning trading, giving the company a market valuation of $92bn,
The company's shares have been boosted since Facebook reported stronger-than-expected earnings on 24 July.
Investors have been encouraged by the fast growth of mobile advertising revenue on Facebook.
Facebook now derives 41% of its total ad revenue from mobile.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23514653#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
