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Facebook's Advertising Revenue Soars in 3Q
NEW YORK — Oct 28, 2014, 6:08 PM ET
By BARBARA ORTUTAY AP Technology Writer
Facebook grew its advertising revenue by 64 percent in the third quarter, helped by a boost in mobile ads that are becoming an increasingly large chunk of the social networking giant's overall advertising business.
The steady increase indicates that Facebook has succeeded in steering advertisers to its mobile platform at a time when most of its users are using Facebook on phones and tablets. Investors were initially worried about the desktop Web era-born company's ability to succeed in mobile advertising, but those concerns are long gone.....
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Advertising revenue at the company totaled $2.96 billion. Mobile ad revenue, a closely watched figure, was $1.95 billion, or 66 percent of Facebook's total advertising revenue for the quarter. That's up from 62 percent in the second quarter and 59 percent in the first three months of the year. The 10-year-old company began offering mobile ads in 2012.
Now, Facebook is expanding into highly lucrative video ads, and earlier this year re-launched Atlas, a tool for marketers to better target people across "devices, platforms and publishers" and to measure how well the ads work.
The Atlas move and the acquisition of LiveRail, an online video advertising platform signal that an "important shift is under way at Facebook," says Debra Aho Williamson, an analyst at research firm eMarketer. Facebook is "becoming much more ambitious in offering digital services far beyond what the company was initially created to do as a social network."...
http://abcnews.go.com/Technology/wireStory/facebook-continues-ad-revenue-growth-3q-26521748
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