Facebook Revenue Exceeds Analyst Estimates

Facebook’s revenue soared by 72% to $US2.5 billion, exceeding average estimates of $US2Wealth Creation – Facebook Revenue | Fountain Property Group36 billion, driven by an increase in their mobile promotions, according to Bloomberg. The shift in Facebook’s strategy to include advertising to their mobile services has given the company a huge boost, with 59% of ad sales coming from their mobile promotions.

With over 1.28 billion users active every month, Facebook is now coming up with several innovations to further boost their hold on the market. An additional 500 million customers are expected to add to the company’s massive user base with their recent purchase of the mobile messaging app WhatsApp. Additional services will soon be added to Facebook after purchasing Oculus VR Inc, the virtual reality headset maker for about $US2 billion. Looking into the future, the company has purchased Ascenta, a U.K.-based aerospace company that will deliver connectivity using drones and satellites.

Read more about this on the Sydney Morning Herald website.