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Facebook shares hit record high Beating Berkshire Hathaway

11h ago
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Facebook Inc is growing so fast analysts can't keep up. The social networking giant beat market expectations for profit and revenue yet again in the latest quarter. This pushed up its shares to a record high on Thursday and allowed it to overtake Warren Buffett's Berkshire Hathaway Inc as the fifth biggest U.S. company by market capitalization. Facebook's shares rose as much as 4 percent to $128.33, boosting its market value by $14 billion to $367 billion. It was enough to eclipse Berkshire's market cap of about $355 billion.Analysts said Facebook's "video first" strategy would help drive the company's growth well into the future as more advertisers move money to mobile platforms.