Mobile advertising is clearly working for social media giant Facebook, according to its end of year and fourth quarter financial report.
Facebook posted mobile advertising revenue represented around 80 per cent of its advertising revenue for the fourth quarter of last year. The figures mean it’s up 69 per cent from the same time in 2014.
The number of daily active users across mobile devices also increased 25 per cent year on year.
Revenue from all advertising increased 57 per cent year on year, up from $US3.594 million in 2014 to $US5.637 million in 2015.
And revenue overall for the company for the full year 2015 was $US17.93 billion, up 44 per cent year on year.
“2015 was a great year for Facebook,” CEO Mark Zuckerberg said in a statement. “Our community continued to grow and business is thriving. We continue to invest in better serving our community, building our business, and connecting the world.”
Mobile hasn’t always been a happy medium for the company though, reports US publication Forbes. Back when mobile was first hitting the market, Facebook was rather slow to the uptake.
“Those days are long gone,” wrote Forbes staffer Brian Solomon. “In its latest earnings, Faceboook crushed estimates for revenue and profit almost entirely by turning its weakness into strength.”
And the exhilarating results for the company had its shares skyrocketing after the announcement, jumping 15.5 per cent.