Facebook revenue jumps 47 percent on soaring mobile ad sales [Reuters (UK)]
Meta Platforms, Inc. - Class A (FB)
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Source: Reuters
Facebook revenue jumps 47 percent on soaring mobile ad sales | Reuters Reuters Staff 2 Min Read (Reuters) - Facebook Inc ( FB.O ) reported a 47 percent jump in quarterly revenue on Wednesday, as the social media company’s mobile ad business got a boost from its focus on videos and improved targeting. Total advertising revenue was $12.78 billion in the fourth quarter ended Dec. 31, compared with analysts’ estimate of $12.30 billion, according to Thomson Reuters I/B/E/S. Mobile ad revenue accounted for 89 percent of the total ad sales, up from 84 percent a year earlier. Facebook said about 2.13 billion people were using its service monthly as of Dec. 31, up 14 percent from a year earlier. The results come at a time when Facebook has warned about a likely hit to user engagement in the near term from attempts to tweak its flagship News Feed feature. Net income attributable to Facebook shareholders rose to $4.27 billion, or $1.44 per share, from $3.56 billion, or $1.21 per share, a year
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