Facebook's Making More Money Off Ads
Facebook's new advertising strategies are working for them, with the company's earnings report showing a year-over-year ad revenue growth of 36 percent. This quarter Facebook made $1.09 billion in revenue from selling you to advertisers, with 14 percent of that coming from mobile. All of that is good news for the company considering that Facebook had a hard time convincing Wall Street it could make money from ads, especially as people are using their smartphones to access the Internet more than ever. That's an issue many tech companies are having these days, as The New York Times's Claire Cain Miller discussed today. Last quarter Facebook implemented a variety of new revenue generators, including the Facebook Exchange, Custom Audiences, and that program with Datalogix that matches offline purchasing habits with online users. All of that together appears to have worked, and unsurprisingly, the market is happy—Facebook's stock is up almost 10 percent in after-hours trading.
