{"id":89934,"date":"1999-12-31T00:11:00","date_gmt":"1999-12-30T13:11:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/facebook-delivers-big-surprise-646m-payoff-by-mobile-biz\/"},"modified":"1999-12-31T00:11:00","modified_gmt":"1999-12-30T13:11:00","slug":"facebook-delivers-big-surprise-646m-payoff-by-mobile-biz","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/facebook-delivers-big-surprise-646m-payoff-by-mobile-biz\/","title":{"rendered":"Facebook Delivers Big Surprise: $646m Payoff By Mobile Biz"},"content":{"rendered":"

SAN FRANCISCO – To the surprise of many critics, Facebook’s mobile business appears to be booming. Delivering its Q2 report, the social network said that it made 41 percent of its US$1.6 billion advertising revenue, or roughly $656 million, from mobile connections.Overall the company posted results that exceeded<\/p>\n

estimates, sending Facebook shares up as much as 21 percent.<\/p>\n

Second-quarter revenue rose 53 percent to $1.81 billion and net profit,<\/p>\n

excluding certain items, was $488 million. Analysts had predicted sales of<\/p>\n

$1.62 billion on average, according to data compiled by Bloomberg.<\/p>\n

Concern about Facebook’s ability to capitalise on the shift from personal<\/p>\n

computers to mobile devices has weighed on the company’s shares since its $16<\/p>\n

billion initial public offering last May, the largest technology IPO on record.<\/p>\n

But CEO Mark Zuckerberg’s efforts to focus the company on ads for tablets and<\/p>\n

smartphones is starting to pay off, according to Paul Sweeney, an analyst at<\/p>\n

Bloomberg.<\/p>\n

“Finally, the blowout quarter that Facebook bulls have been waiting<\/p>\n

for,” Sweeney said. “Among many impressive data points, I think<\/p>\n

investors will focus on the percentage of revenue from mobile of 41 percent,<\/p>\n

which was well above consensus.”<\/p>\n

Mobile will soon account for more than half of Facebook’s advertising dollars,<\/p>\n

Zuckerberg said on a conference call. Mobile user numbers expanded 51 percent<\/p>\n

to 819 million during the quarter. The total number of Facebook members was<\/p>\n

1.15 billion, compared with 1.11 billion in the earlier period.<\/p>\n

Facebook aims to take 13 percent of the global mobile-advertising market this<\/p>\n

year, up from 5.4 percent last year, according to EMarketer. It would still<\/p>\n

remain a distant No. 2 to Google, which is expected to grab 56 percent.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO – To the surprise of many critics, Facebook’s mobile business appears to be booming. 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