Facebook has surprised Wall Street by posting a 75% increase in mobile advertising revenue, only three months after officially launching such ads.
While other tech rivals such as Google and Yahoo! have posted up and down results for the second quarter – much akin to many of their efforts to tame the mobile beast – the social networking giant has posted a huge swing in profits from a loss of $157m to a profit of £333m: mobile advertising accounted for 41% of those figures.
Facebook has been under pressure from Wall Street to perform ever since it first went public more than a year ago. At the time, it had no real mobile advertising in place and analysts were sceptical of the firm’s ability to make money, so CEO Mark Zuckerberg is certainly happy to see progress being made to appease the money men.
He said: “The work we’ve done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future.
“This quarter marks the end of our first year as a public company and I think we’ve created a good foundation for the future.”
Just over two weeks ago, Zuckerberg pointed out mobile generated 30% of Facebook’s revenue in the last quarter and the latest figures show things are only getting better for the immensely popular social networking site.
Between April and June, mobile ads made the social networking firm $655.6m – accounting to more than 41% of its total $1.6bn generated in advertising revenue.
Zuckerberg will also be delighted by the fact his site has shown progress with mobile while, at the same time, many analysts have said Google is still struggling when it comes to mobile.
Internet Marketing News from ClickThrough – an integrated digital marketing agency offering web design services, web development, SEO, PPC, content, online PR and conversion optimisation.