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Facebook CEO Mark Zuckerberg speaks during a news conference at Facebook headquarters
Facebook CEO Mark Zuckerberg speaks during a news conference at Facebook headquarters
(ROBERT GALBRAITH/REUTER)

Two years after IPO, Facebook is the new Microsoft

Shortly before Facebook Inc. went public in 2012, a poll of more than a thousand professional investors, analysts and traders came to an overwhelming conclusion. The social media giant was overvalued, according to 79 per cent of those surveyed.

Two years later, the skeptics are practically extinct. Facebook vanquished the doubters by pulling out a weapon they never expected: strong, growing earnings.