Tomahawk, WI 7/25/2013 (Basicsmedia) – Facebook, Inc. (NASDAQ:FB), with a huge following of 700 million subscribers, is presently the No. 1 social networking site in the world. Facebook had initiated mobile applications for its services on Android and other mobile devices in March 2012 through App Centre.

The Company’s stock is soaring ever since the Firm reported an increase in revenue from mobile ads in its 2Q 2013 results. Facebook, Inc., on July 24, 2013, declared consolidated earnings of $333 million, or $0.13 per share, in 2Q 2013, as against a loss of $157 million, or $0.08 per share, in the same quarter last year. Adjusted earnings were reported at $488 million, or $0.19 per share in its results, significantly beating the analysts’ expectations of $0.14 per share.

The revenue was up 53% from $1.18 billion to $1.81 billion, way ahead of the market analysts’ forecast of $1.62 million. The results were quoted to be impressive by various stock analysts. This is the highest recorded growth in revenue for the Company since 4Q 2011. Revenue from mobile ads formed 41% of the total ad revenue at $655.6 million, up from 30% of total ad revenue in the previous quarter.

The stock closed the session of July 24, 2013 at $26.51, up 1.45% and further increased by 16.75% to $30.95 in after trading hours. The shares have seen a positive growth chart in last one month, steadily up by 10.76% in a month after falling 14.7% in last 6 months. The stock, close to its 52 week high of $32.51 is still trading much below its IPO price of $38.00. With giants like Google showing a drop in earnings from online ads, Facebook seems to have addressed market’s concerns about the potentially successful implementation of its mobile operations. The stock is looking to breach it’s all time high level of 2011, riding on revenues from its mobile ads and increased usage of the networking site on mobile devices.

With the Facebook’s mobile strategy paying off, the Company has already started exploring feasibility of introducing video ads, which are highly rewarding. Earlier, on July 18, 2013, Facebook announced a pact with Monoidics, a software firm based in the UK, for a formal verification and analysis software used for virus protection and removal in the mobile apps, a move which shall boost Facebook’s mobile revenue. Philip Su, Director of Facebook London Engineering Office, announced that the pact was an outcome of the Company’s commitment to constantly evolve the class of its services and mobile apps. The acquired technology, presently being used by firms like Airbus and Mitsubishi, will check the entire content for mistakes and faults. However, the financial implications of the deal were not disclosed by Facebook at the moment. Su said, “This asset acquisition represents our investment in the quality of our mobile applications platform and also our people, as members of their (Monoidics) talented engineering team will join us to work at Facebook’s London office once the deal closes.”

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