With it’s earnings report delivered earlier today, Facebook is showing positive progress in its ad revenue since adopting its current monetization model last year. Due to the announcement that Facebook is now pulling in 41% of its ad revenue through mobile advertising, the company’s stock rose more than 17% in afterhours trading today.
“”We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile. The work we’ve done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future.” – Mark Zuckerburg, CEO of Facebook
Facebook’s success in the mobile realm is apparent with its now 819 million mobile users, which adds up to a 51% increase over the same period in 2012. All in all, Facebook has 699 million daily active users and 1.15 billion monthly active users. That’s good news for the company, which launched its ad business a year ago. Advertising now accounts for 88% of the company’s revenue.