Market Extra: Facebook is about to pass Buffett’s Berkshire Hathaway in market cap

Mark Zuckerberg may soon be looking at Warren Buffett in the rearview mirror.

Zuckerberg’s tech behemoth, Facebook Inc. FB, +1.26% is threatening to whiz by Buffett’s Berkshire Hathaway Inc. BRK.B, +0.24% leaping ahead of the market capitalization of the Sage of Omaha’s investment conglomerate.

Facebook added about $10 billion to its market cap Thursday before retreating from its best levels, touching a valuation of about $362 billion after the social network late Wednesday reported stellar second-quarter earnings underpinned by its growing mobile-advertising business. Giddy investors briefly pushed Facebook’s shares past Berkshire’s Class B shares on Thursday, which touted a total valuation of $355 billion, according to FactSet data.

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