| Videos | Channels | Search |
A mobile boost for Facebook
Facebook shares soar after it earned $333 million in the second quarter, reversing a loss in the same period a year ago.
It posted higher revenue from its mobile adverts, which now accounts for 41% of total revenue. A turnaround for a company which 14 months ago analysts said would never make money from mobile.
Ad prices, which declined at Google and Yahoo, increased 13 percent at Facebook.
Chief Executive Mark Zuckerberg, says the company is beginning to reap the benefit of investments to retool certain products, and that they are "in good shape and could start to play a bit more offense."
Its stock was priced at $38 when the company went public in May 2012, but has not hit that range since and Saxo Bank's Peter Garnry says because it has such tight margins for error it could take a long time to get back to those levels, and although it's an interesting company there is better value to be had elsewhere.
01:30 minutes
Tags: earnings, facebook, fb us, google, mark zuckerberg, mobile, mobile ads, profit, revenue, saxo bank, saxo tv, shareholder value, shares, tradingfloor.com, video, yahoo