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Facebook posts earnings, its mobile ad business soars

The world's biggest social network has posted healthy earnings on the back of a thriving mobile advertising business
By: Tamlin Magee | Business, Financial & Legal News | Posted: Jul 24, 2014 12:22 am

Facebook has just posted its second quarter earnings and the company trounced Wall Street expectations by boosting revenues 61 percent, strengthened by its mobile advertising business.




Mobile ad revenue made up a stonking 62 percent of all ad revenue in the three months quarter ended June 30. That's up from 41 percent from the same time last year, and steady growth from 59 percent in the company's prior quarter. Total revenue was at 2.91 billion dollars, topping the Thomson Reuters expectation of 2.81 billion. Its income was posted at 791 million dollars, up enormously from 333 million for the second quarter of 2013.


"We had a good second quarter," Mark Zuckerberg, Facebook founder and CEO, said in a statement. "Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world." Since going public, Facebook had some trouble monetizing despite it being by far the world's largest social network, now putting its users at the 1.32 billion mark. Clearly mobile has an even bigger role to play in the future of Zuckerberg's once fledgling social media project.


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