Facebook’s stock soared Wednesday following the release of its Q2 earnings report, which beat Wall Street expectations. Investors seemed pleased with the company’s strong user growth and better-than-expected gains from mobile advertising.
It reported $1.81 billion in revenue, a 53 percent year-over-year increase, with its biggest gains coming from mobile, which it has struggled to monetize. Those efforts paid off in Q2; 819 million monthly users accessed Facebook through a mobile device — a 51 percent increase from the year before.
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Facebook Flexes Its Mobile Muscles
Posted by: Rachelle Dragani July 25, 2013 11:26 AMFacebook’s stock soared Wednesday following the release of its Q2 earnings report, which beat Wall Street expectations. Investors seemed pleased with the company’s strong user growth and better-than-expected gains from mobile advertising.
It reported $1.81 billion in revenue, a 53 percent year-over-year increase, with its biggest gains coming from mobile, which it has struggled to monetize. Those efforts paid off in Q2; 819 million monthly users accessed Facebook through a mobile device — a 51 percent increase from the year before.