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Facebook shares reached a record high after the report on the growth of mobile advertising sales

The advertising business of Facebook on mobile devices has increased by more than 50% in the second quarter.

27.Jul.17 2:44 PM
By Daria Zaytseva


Facebook shares reached a record high after the report on the growth of mobile advertising sales

According to a company published on Wednesday, which continues to promote itself as a platform for placing online advertising.

Facebook shares, the owner of four of the most popular mobile services in the world, responded to the publication of the report by an increase of more than 4% to about $ 173 in over-the-counter trades. At the close of trading on Wednesday, the company's share growth for this year was almost 44%.

A social network has recently increased the number of advertisements posted in the Facebook news feed, and also filled in advertisements for its Instagram.

According to Facebook, total revenue in the second quarter of this year increased by 44.8% to $ 9.32 billion. The result surpassed the expectations of analysts who predicted the figure at $ 9.20 billion.

The company's revenue from advertising for the reporting period was $ 9.16 billion, while mobile advertising accounted for 87% of total advertising revenue compared to 84% a year earlier.

As a result of the second quarter, the net profit attributable to the shareholders of the company increased to $ 3.89 billion, or $ 1.32 per share, from $ 2.28 billion, or 78 cents per share, for the same period a year earlier. Analysts predicted an average of $ 1.13 per share, according to Thomson Reuters.

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