Facebook’s revenue exceeds expectations
Facebook’s revenue for the second quarter has seen a whopping 61% increase. This rise in revenue has completely quashed Wall Street’s financial targets, proving once again that Facebook is a force to be reckoned with.
The world’s top social media network has enjoyed amplified interest from both users and advertisers in the second quarter. Facebook now boasts 1,32billion monthly viewers, meaning it has more viewers than India has people! The company’s profit margins have also ballooned.
Hot on the heels of chief competitor Google, Facebook has claimed a lion’s share of ad revenue. Despite grim predictions of losing its “cool” factor, the company has managed to establish itself as a key player in digital advertising.
Mobile advertising to thank for revenue spike
Facebook had a shaky start as a publicly traded company, but two years on they are picking the fruits of their labour. The company’s ad revenue is now largely derived from mobile devices, with numbers looking strong across the globe. Analysts in the know claim that this is the year mobile advertising will finally surpass more traditional media such as newspapers, magazines and radio.
Driving factors include the launch of a mobile advertising network launched earlier this year, as well as premium video advertising spots. Facebook is also advertising through their photo sharing service Instagram, with spots being sold since last November.
Facebook showing no sign slowing down
Facebook founder and CEO Mark Zuckerberg feels that more is yet to come. When asked about the recent revenue spike he had this to say:
“We had a good second quarter. Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world. One thing that’s exciting is there is still so much room to grow.”