US technology sector reporting continues to exceed expectations with Facebook posting sales of $2.91 billion topping analyst estimates of $2.81 billion
US technology sector reporting continues to exceed expectations with Facebook posting sales of $2.91 billion topping analyst estimates of $2.81 billion. Facebook shares traded higher and touched an all time record as evidence the Company's mobile advertising initiatives are delivering results. Interesting promotions on mobile or wireless devices now make up 62% of Facebook's revenue. If you think back to the 2012 listing the major concern around the Company was as to how it would convert mobile users into revenue. Not only has the Company developed a more sophisticated mobile advertising offering but the introduction of larger screen mobile phones is helping consumers do more via their phones. Facebook's Chief Operating Operator puts it quite simply, Our tools and the products we're building are working...They're working to drive engagement, they're working to drive sales. Based on the numbers just released it is hard to argue otherwise: (VIEW LINK)
Livewire is Australia’s #1 website for expert investment analysis. We work with leading investment professionals to deliver curated content that helps investors make confident and informed decisions. Safe investing and thanks for reading Livewire.