Facebook, that marvellous daily distraction. The way you know what your co-workers did on the weekend, what your friends ate for lunch, and which cute animal meme your mom felt most compelled to share. Social networking applications aside, Facebook continues to demonstrate its enormous success as a business.
- CFO South Africa is on Facebook. Head over and 'like' CFO South Africa.
The social media company recently posted a strong jump in quarterly revenue, some 40,5% to be exact. The increase is attributed primarily to new advertising services and the mobile app boosting ad sales.
According to Reuters, ad revenue grew 45.4% to $4.30 billion, with mobile ads accounting for 78% of the total (compared to 66% in the same quarter last year). The company's stock rose 5%, to an all-time high of $109.34 in extended trading on 4 November, before paring gains to around 2%. It closed earlier at $103.94.
As of end September, Facebook boasted a reach of 1,55 billion monthly active users, up 14% from a year ago. Of these, some 1,39 billion used the service on mobile devices.
According to Sheryl Sandberg, Chief Operating Officer, the company is looking for growth in emerging markets. She said in an interview:
"We're also pretty focused on helping bring the next set of people who are not online, online."
- Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter, like us on Facebook and join us on LinkedIn.
