VIDEO: Facebook shares sore 22% on mobile hopes

VIDEO: Facebook shares sore 22% on mobile hopes



Facebook Inc. (FB), the biggest social networking site, surged in German trading after reporting sales that topped analysts’ estimates, allaying concerns over its ability to make money from mobile ads.

Sales rose 32 percent to $1.26 billion during the third quarter, Menlo Park, California-based Facebook said yesterday in a statement. That compares with the average estimate of $1.23 billion, according to data compiled by Bloomberg. That also matched the growth rate of the second quarter, snapping a streak of slowing sales increases.

Ads delivered to people on mobile devices generated about $150 million during the quarter, or 14 percent of all advertising revenue. That compares with about $10 million in the second quarter, according to an estimate by Brian Wieser, an analyst at Pivotal Research Group. Chief Executive Officer Mark Zuckerberg is showing early success with the more than a half dozen services unveiled since March that are designed to help businesses woo social-network users on tablets and smartphones. Click below for full story - 

 IMAGE: Technobuffalo

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