Facebook’s Mobile Advertising Sales Soar High- Shares Hit Record
Facebook’s mobile advertising business has grown beyond fifty percent in its second quarter, the social network giant mentioned in its reports related to earnings on Wednesday, July 26, 2017. The company continues to emerge as a venue of choice for the ever-expanding population of online advertisers. Shares in Facebook, holder of four most famous mobile services around the globe, rose above four percent (roughly US$ 173) specifically in after-hours trading. The stock price reached close to forty four percent this year.
Facebook currently has more than two billion dedicated users. The company has been clutching more advertisements into its news feeds and has also added more advertisements to Instagram which is Facebook’s photo sharing application. Instagram has more than seven hundred million users globally.
With revenue flowing in from Facebook advertising and Instagram, Mark Zuckerberg, the Chief Executive of Facebook, quoted that the company has now turned its attention and focus to monetizing its two major messaging services, namely WhatsApp and Messenger, which have roughly one billion users each. In a conference conversation with analysts, Mark Zuckerberg said “I wish to see Facebook moving slightly faster here but I’m pretty confident that we are definitely going to get this right in the long run.”
In addition, the company is also fast-tracking its process into video, a strategy created typically to take advertising dollars from the television and entertainment industry and increasing peoples engagement on Facebook. This will also boost the time people generally spend using the social networking platform. Few weeks from now, Facebook is projected to introduce a video service for its users that will also comprise of scripted shows. This will be a sharp alteration for a networking business entirely built on the content generated by its users. Zuckerberg added that the video act as a substantial driver for Facebook’s business growth in the future.
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