Facebook revenue smashes expectations as mobile ad sales surge
- 8 years ago
Facebook beat Wall Street expectations as quarterly revenue rose more than 50 percent, due to its wildly popular mobile app and a push into live video drew in new advertisers and encouraged existing ones to boost spending.
Facebook also announced a proposal to create a new class of non-voting shares, which would be given as a dividend to existing shareholders.
The company’s shares rose 9.5 percent in after-hours trading Wednesday.
Total revenue rose to $5.38 billion with ad revenue increasing 56.8 percent to $5.20 billion.
Facebook also announced a proposal to create a new class of non-voting shares, which would be given as a dividend to existing shareholders.
The company’s shares rose 9.5 percent in after-hours trading Wednesday.
Total revenue rose to $5.38 billion with ad revenue increasing 56.8 percent to $5.20 billion.