Facebook profits tripled to $642 million in the first quarter on a 72-percent surge in revenues helped by strong gains in mobile users and mobile advertising.
US newspapers suffered further revenue declines in 2013, seeing only mixed success in a transition to digital, according to industry figures.
U.S. newspaper industry revenue continued to fall last year, as increases in circulation revenue failed to offset shrinking demand for print advertising.
Google lost some of its luster Wednesday as quarterly results failed to meet lofty Wall Street expectations, sending its shares down sharply.
Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar market.
The Authors Guild says that Google Inc. is stealing business from retailers and has asked a New York federal appeals court to find that the Internet giant is violating copyright laws with its massive book digitization project.
For the first time, U.S. Internet advertising revenue has surpassed that of broadcast television thanks to sharp growth in mobile and digital video ads.
As Twitter looks to broaden its appeal beyond its 241 million users, the company is introducing a redesign of profile pages that includes bigger photos, more user controls and a distinct resemblance to Facebook.
US news media revenues have tumbled by roughly a third since 2006 amid a shift to digital media, researchers said Thursday.
Worldwide spending on mobile advertising is expected to reach $31.5 billion this year, a 75 percent increase from 2013 thanks largely to Facebook and Google, according to a new report by research firm eMarketer.