Facebook Inc.’s investment in mobile continues to pay dividends – literally, as the social media giant’s latest quarterly results pushed shares to a record high on Wednesday.
In fact, Facebook COO Sheryl Sandberg told investors during a July 26 earnings call, mobile now accounts for 87 per cent of the company’s total ad revenue – a three per cent increase over last year’s already-impressive rates – and grew by 53 per cent year-over-year to $8 billion (all figures USD).
Ad revenue for the second quarter grew to $9.2 billion – a 47 per cent gain over last year – rising by 45 per cent year-over-year in the U.S. and Canada alone. (Meanwhile, the company’s total global revenue was $9.3 billion, representing a yearly gain of 45 per cent.)
According to Reuters the company’s shares rose accordingly, and as of Wednesday night had climbed nearly 44 per cent this year.
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