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Facebook's mobile ad revenue climbs 14%
- USA: Thursday, October 25 - 2012 at 03:40
Facebook Inc. has increased its mobile advertising revenue several times in the third quarter, a faster-than-expected pace that helped drive shares in the world's biggest social network nearly 13% higher, Reuters has reported. The company said that it now gets 14% of its advertising revenue from mobile ads, helping to reassure investors that the social network is beginning to figure out how to earn money off smartphone and tablet users. Mobile ad revenues totalled roughly $150m, up from an estimated $40m to $50m in the second quarter and almost nothing in the first.
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