Facebook Inc. (NASDAQ:FB) Reaps Sweet Fruits from Mobile Advertising
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Facebook has all the reasons to celebrate its 10 years anniversary in style as its results for the latest quarter are more than satisfactory; the results show that mobile advertising make up more than 50% of the total revenue generated by ads for Facebook Inc. (NASDAQ:FB); The mobile generated revenue for the latest quarter is 53% which was down to 49% in the its third quarter. This is the first time in Facebook’s history. This result clearly shows that the social networking king has no trouble shifting from desktop to mobile devices.
The last three months of last year for Facebook have left behind all analysts’ and experts’ expectations; it’s the company’s third consecutive quarter where the results have been better than forecasts. Mark Zuckerberg, Facebook’s CEO believes that 2014 will see many new and different mobile experiences that will be introduced by Facebook.
Facebook Inc. (NASDAQ:FB) revealed that the company’s October and December quarter railed in $523 million at 20 cents a share, which a year ago was just $64 million at 3 cents a share. The company’s latest quarter’s adjusted earnings were a figure of $780 million at 31 cents a share, which beats expectations by 4 cents. The revenue for this quarter went up by 63% to a staggering figure of $2.59 billion, which is more than the previous figure of $1.59 billion and expected value at $2.35 billion.
After the revelation of these results, shares of Facebook Inc. (NASDAQ:FB) jumped up by 12% in the extended session of trading.
In the extended session of trading, shares of Facebook Inc. (NASDAQ:FB) went up by $6.41 at a value of $59.94. The shares closed for the day after dipping by 3% before the news of its earnings were announced.