New York Magazine reports that the social network's stock is
way up today — more than 20 percent as of midday — putting Facebook on track to
have its best ever day as a public company. The nominal reason for the gains is
that yesterday's earnings report was better than analysts had expected, with a
small loss attributable to all those stock options employees cashed in when
their lock-ups ended.
But the gains are really about one thing: mobile
advertising. Facebook made $153 million from selling advertisements for its
mobile apps last quarter, a figure that represents 14 percent of all its advertising
revenue. And while those ads will clog your timeline, they represent a sign
that Facebook is coming close to solving its biggest problem.
Why is mobile advertising so important for Facebook? Because
it's a no-brainer. Facebook has more mobile users than any other social network
by a huge multiple (604 million at last count), but has been slow in
advertising to those users.…….
Wait…there’s more at http://nymag.com/daily/intel/2012/10/facebook-is-having-the-best-day-ever.html
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