Facebook share price up as profits rise whopping 70pc

Geronimo Vena
Luglio 28, 2017

Mobile advertising revenue represented approximately 87 per cent of advertising revenue for the second quarter, up from approximately 84 per cent of advertising revenue in the second quarter previous year.

You might have seen an item in the news the other day about Facebook and Google's ad revenues and how when put together they exceed all the other print and online advertising income of all publications in the world.

The company revealed that mobile advertising revenue was around 87% of their total $9.16 billion, this is up from 84% on the same period previous year. The company announced recently that it now has 2 billion users.

Facebook (NASDAQ:FB) shares jumped almost 8 percent in pre-market trading, after the company recorded a 70 percent profit boost in the second quarter.

That generated earnings of $3.89 billion, or $1.41 per share, which was a 71 percent year-over-year increase and beat analyst expectations of $1.34 per share.

Facebook is expected to generate US$36.29 billion (RM155.5 billion) in net digital ad revenue this year, a 35% jump from 2016, according to research firm eMarketer.

Also reaching new heights are the number of daily active users (1.32 billion) and monthly active users (2.01 billion) - both 17% more than a year ago. Facebook's CEO, Mark Zuckerberg announced stats on his Facebook profile today.

Facebook's overall revenue was up some 44.8 % to $9.32 billion from the same period previous year.

The quarterly results exceeded analyst forecasts and lifted Facebook's stock value by 4% to a record high of US$175.49.

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