Facebook, the social networking giant, saw its shares jump 14% after the US market closed yesterday following an update from the group which showed a major revenue boost from mobile ads.
The company finally delivered some good news for investors who have stuck with it since its ill-fated IPO earlier this year saw shares crash sharply. It said in its third-quarter statement that mobile advertising now accounts for 14% of its revenues, or $150m, allaying some analysts' fears. Stressing the point, chief executive Mark Zuckerburg added: "I want to dispel this myth that Facebook cannot make money on mobile. "This may have been true six months ago, because we had not started trying yet." The comments helped lift shares 14% in total, most of the gains coming after the ...
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