Majority of Facebook ad revenue came from mobile devices last quarter
Thursday, January 30, 2014 3:55 PM
Facebook Inc. reached a key milestone last quarter when more than half of its advertising revenue came from mobile devices, sending shares up today to an intraday record, Bloomberg reported. The stock rose as much as 16 percent to $62.30 in New York. The surge followed quarterly results in which revenue rose 63 percent to $2.59 billion and net income excluding some items was 31 cents a share, the company said. Analysts on average had projected sales of $2.35 billion and a per-share profit of 27 cents, according to estimates compiled by Bloomberg.