No matter how much we hate them, Facebook’s ads seem to have given the social media giant a massive revenue of 2.91bn, giving Facebook a rise of 60% on the same quarter last year.
When Facebook announced it was going public a lot of people doubted how well the company would do with mobile ads, but it appears mobile ads alone account for 62% of all ad revenue. Facebook’s stock went over $70 a share to a new high of $74 following the earnings announcement, which makes it double the IPO price it was given two years ago.
Facebook has grown to a user base of 1.32 bn people now and it grows by around 130 million users a year with 829 million of them being daily active users.
I reckon Facebook’s investors are sitting pretty happy now, and anyone that doubted the social media company are sitting twiddling their thumbs.
Image: The Mirror
By Craig Fox | July 24th, 2014