Bigger than GE, Facebook value tops $300 billion

A day after reporting better-than-expected results, Facebook (FB) is now worth $306.4 billion, with the social media company vaulting ahead of General Electric (GE) in terms of its market valuation.

Facebook on Wednesday reported third-quarter profit of $891 million on revenue of $4.5 billion, illustrating its move to advertise on the company's mobile platform.

The company, which says it has more than a billion daily visitors, is now the sixth biggest in the Standard & Poor's 500 index.

Shares of the company founded by Mark Zuckerberg are up 40 percent in 2015.