Facebook Is Making Money With Mobile

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July 25 (Bloomberg) -- Adam Johnson reports on Facebook's mobile-ad strategy on Bloomberg Television's "Lunch Money." (Source: Bloomberg)

Today is facebook's moment in the fun.

Shares of surging out of the gate this morning to the highest level since we saw right after the ipo that went so terribly wrong.

The headline -- they are making money.

Doing it meant -- with mobile.

41% of total revenues.

Way more than forecast.

Prove ceo mark zuckerberg is delivering on his promise to make facebook a mobile first company.

He and the chief operating officer spoke yesterday on the earnings call.

Our advertising business gained significant momentum this quarter, growing 61% year over year to $1.6 billion.

Mobile revenue is now approximately 41% of the total ad revenue, up from about 30% in q1. this growth was robust across all regions.

Each of the four marketing segments increased.

Our top -- is to expand as opposed to just increasing the number of ads.

We believe it will help us improve the quality of ads and with a more competitive option, for the best experience for those using the products, best returns for marketers and this results russ.

We are not just building a strong innovation engine for our company but creating tools to enable the growth, jobs and businesses, based on knowledge and information.

I am proud of the work we're doing here to help developers create apps, to help local businesses find customers, great rants tell their story.

This is the core part of our mission.

Analysts and observers taking a victory lap.

The ad rates they are getting have been going up and going up dramatically.

If you look at the growth of advertising revenue, it vastly outpaces the growth in users or the growth in page use.

So, clearly they are getting much, much better ad rates.

Some of it is that they are monetizing mobile better, of course.

A lot of it is a lot more local advertising, penetrating internationally.

I spoke is a must bought -- must buy at this point really for all advertising.

Brand advertisers, direct response, commerce advertisers, and local businesses.

If you are not on facebook right now, i think you are missing out because they have an ad product everyone at this point.

Like a giant sequoia tree.

This canopy for the ecosystem that operates around the.

It is not just them but all the other ancillary businesses that kickoff because of facebook.

This is really what they do.

Really helping to pump some more into the economy, pump some more into business in general.

I don't think we are even close to the limit of what these guys can charge for ads.

I think they will deliver them more frequently and innovatively and far more targeted.

I think you will start to see numbers closer to or approachable google buzz as opposed to looking like yahoo.

It is really going to be a great company.

Facebook's biggest rival in advertising may be google but

This text has been automatically generated. It may not be 100% accurate.


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