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Facebook’s impressive second quarter sees mobile ad revenues soar

28.07.2016
Facebook’s impressive second quarter sees mobile ad revenues soar

Facebook’s ad revenues are up almost 60% in the last three months, its quarterly results have revealed, as the social network continues to grow its share of the ad market. 

The platform now has nearly 1.7 billion monthly users, up 500 million since February, with 1.1 billion users logging on every day.

Ad revenue has also increased, up 59% to $6.4bn – of this, $5.2bn or 84% comes from mobile, supporting the company’s mobile-first approach.

This comes in stark contrast to Twitter’s corresponding report, which revealed that the social platform’s revenues have not grown year-on-year, causing stock prices to plunge by around 14%.

However, Facebook finance chief David Wehner has warned analysts that the company’s revenue growth rate, which surpassed Wall Street estimates, was set to slow as 2016 continues.

The report also revealed capital expenditures for the quarter at $995m, with cash, cash equivalents and marketable securities at $23.29bn.


Source:
http://mandmglobal.com/facebooks-impressive-second-quarter-sees-mobile-ad-revenues-soar/