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Facebook’s ad revenue surpasses predictions; records $6.24bn

  • Facebook reveals its quarterly earnings and revenue; ad revenue hits $6.24 billion
  • The mobile revenue of the social media is up by 81% year on year
  • The daily active users hit 1.13 billion, above the expected 1.11 billion
Facebook’s ad revenue surpasses predictions records $6.24bn

Facebook on Thursday revealed that its quarterly earnings and revenue and the numbers have surpassed predictions of analysts and Wall Street.

 

According to CNBC, Facebook's main money stream, ad revenue, hit $6.24 billion, versus the $5.8 billion expected by analysts surveyed by StreetAccount. Mobile ad revenue took the lion's share (84%) at $5.42 billion, versus the $4.84 billion expected. 

 

Thomson Reuters had earlier predicted that the social media would record earnings of 82 cents per share on revenues of $6.02 billion; however, the social media posted earnings of 97 cents per share, adjusted, on revenues of $6.44 billion in revenue in the second fiscal quarter.

 

"We're improving the experience for our community by helping them build more relevant and engaging ads," CEO Mark Zuckerberg told investors on a conference call.The company further revealed that the mobile revenue is up by 81% year on year, and the daily active users hit 1.13 billion, above the 1.11 billion expected.

 

Facebook's CEO Mark Zuckerberg shared the numbers in a post on his Facebook page

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