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Wall Street investors seem to happy with yesterday’s 3rd quarter earnings statement from Facebook. According to Don Reisinger writing for CNet, “The social network’s shares have soared in early trading today, jumping 23 percent to nearly $24. Facebook closed the day yesterday at $19.50. Investors are responding favorably to Facebook’s better-than-expected third-quarter earnings report that came out yesterday. The company revealed that its adjusted earnings per share hit 12 cents during the period that ended September 30, beating analyst estimates by a penny. Facebook’s revenue rose 32 percent over the same period last year to end the quarter at $1.26 billion.”
“$153 million of that revenue came from sales of mobile advertisements, a category of business that didn’t exist at Facebook seven months ago. Chief Executive Mark Zuckerberg stridently defended the potential for the company’s mobile business. Mr. Zuckerberg added that he expects the company will ultimately make more money from user activity on mobile, based on time spent,” reported Evelyn M. Rusli of the Wall Street Journal.
Zuckerberg went on to comment, “people who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”
Facebook says it had 604 million monthly active mobile users at the end of September, a 61 percent increase over a year ago.
As mobile advertising opportunities continue to increase on Facebook, will this be an option to add to your marketing repertoire? Do you feel more confident about continuing to pursue potential customers on the world’s biggest social networking site? Share your thoughts.