Facebook shares rocketed to an all-time high Thursday as investors welcomed solid earnings for the social networking giant, which has seen big gains in advertising and better connections in mobile and video.
Facebook reported a dip in its quarterly profit Wednesday but said revenues surged on mobile advertising gains, as its user base neared 1.5 billion.
Facebook grew its advertising revenue by 64 percent in the third quarter, helped by a boost in mobile ads that are becoming an increasingly large chunk of the social networking giant's overall advertising business.
Brands spent $8.4 billion on mobile advertising in 2013, and that number is expected to quadruple to $36 billion by 2017, according to eMarketer. But do mobile display ads—those tiny banner ads that pop up in your smartphone's ...
Singapore Telecom, Southeast Asia's biggest telecom firm by revenue, said Wednesday it will buy two mobile advertising companies for a total of $385 million to further boost its digital business.
Twitter shares sank Tuesday to their lowest levels since the company's market debut after the popular messaging platform reported a jump in revenues but disappointing growth in users.
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.
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.
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.
Less than two years ago, disillusioned investors were fleeing Facebook Inc. stock, worried the company would never figure out how to make the leap to mobile devices from personal computers, let alone make money on them.