Facebook just broke a record — and it has some Wall Street analysts calling for the stock to go even higher.
In Wednesday night's earnings announcement, the social media company beat estimates on both earnings and revenue. But the headline number for Wall Street was the advertising growth, higher than investors have see in two years, Mark Mahaney, RBC Capital Markets lead Internet analyst, told CNBC's "Squawk on the Street" Thursday.
"There's one number you need to know about the Facebook print last night: It's 66 percent," Mahaney said. "That was the advertising growth, year over year, if you take out foreign exchange. And that was EBITDA margin that the company printed."