Facebook kills it on mobile ad revenue - shares soar 19%

David Paul Morris

Shareholders like Facebook's second-quarter earnings. Stock was up nearly 20 percent in immediate after-hours trading.

Facebook on Wednesday blew out of the water Wall Street's expectations for the second quarter, due to tremendous growth in its mobile advertising revenue. Mobile ad dollars came in at 41 percent of the company's total ad revenue for the quarter, up from 31 percent in Q1. That equaled roughly $656 million of Facebook's total $1.6 billion in ad revenue.

Facebook shares were trading nearly 20 percent higher after hours at $31.68.

Here's how the rest of the numbers broke down:

Net income:

Facebook Inc. made $333 million in net income, up from a loss of $157 million a year ago.

EPS:

Earnings per share came in at $0.13 a share, up from a loss of $0.08 a share a year ago. Analysts polled by Yahoo Finance/Thomson Reuters were expecting earnings of $0.14 a share.

Revenue:

Revenue came in at $1.8 billion, up 53 percent from a year ago. Analysts expected revenue of $1.6 billion.

Companies: FB

Source: http://feedproxy.google.com/~r/vertical_44/~3/-zzNgbCvimM/facebook-shares-soar-after-q2-earnings.html

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