7/25/2013

Facebook reported 53% higher sales and a profit of $333 million in the second quarter, with mobile-ad revenue accounting for 41% of its total advertising business. Mobile's increased share of revenue -- up from 30% of the total in the first quarter -- was driven by the introduction of new products and models; CEO Mark Zuckerberg added that mobile revenue will soon surpass desktop. Bloomberg Industries analyst Paul Sweeney called the second-quarter report "the blowout quarter that Facebook bulls have been waiting for."

Related Summaries