Facebook’s Results beat Profit and Revenue Forecasts for seventh quarter on the trot

Facebook’s Results beat Profit and Revenue Forecasts for seventh quarter on the

It is reported that results of Facebook have surpassed profit and revenue forecasts for the seventh quarter in a row as the firm continues to win more mobile advertising revenue.

The world's biggest online social network is earning more mobile advertising revenue because users are increasingly using the social networking site on smartphones. According to Facebook, the fourth quarter revenue increased 53% to $3.59bn.

"The bigger Facebook gets, it cements its position as one of the most dominant players in digital media, and it has the size and reach to change the rules of digital advertising and convince others to play by them", said Debra Aho Williamson, an analyst at research firm eMarketer.

Back in 2012, Facebook started offering mobile ads. Recently, it has also started working into more lucrative video advertising. In 2014, Facebook re-launched Atlas, which is a tool for marketers to target people across devices, platforms and publishers.

Sheryl Sandberg, chief operating officer, called 2014 the year Facebook finished the shift to mobile, adding that the company will carry on making investments to build on its business in 2015. According to Sheryl Sandberg, in the United States, 25% of consumers spent time on mobile devices to get access to various media, while only about 10% of advertising budgets goes to mobile.

But still, the company has to work a lot to match the pace of the competitor Google in the digital advertising market. Last year, Facebook had about 8% share of the market compared to Google's 31%.

The company owns the photo-sharing app Instagram and the messaging service WhatsApp. Facebook has launched stand-alone mobile apps of its own. In the October to December quarter, the company earned $696m, or 25 cents per share.

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