- Title: Facebook shares hit record high as mobile ad sales soar
- Date: 27th July 2017
- Summary: MENLO PARK, CALIFORNIA, UNITED STATES (FILE) (REUTERS) VARIOUS OF FACEBOOK LOGOS AND SIGNS OUTSIDE OF THE COMPANY'S HEADQUARTERS STREET SIGN READING 'HACKER WAY' VARIOUS EXTERIORS OF FACEBOOK OFFICES
- Embargoed: 10th August 2017 03:21
- Keywords: Facebook earnings Mark Zuckerberg mobile advertising business Messenger WhatsApp
- Location: MENLO PARK AND SAN JOSE, CALIFORNIA, UNITED STATES/UNIDENTIFIED LOCATIONS
- City: MENLO PARK AND SAN JOSE, CALIFORNIA, UNITED STATES/UNIDENTIFIED LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0016RHQVRB
- Aspect Ratio: 16:9
- Story Text: Facebook Inc's mobile advertising business grew by more than 50 percent in the second quarter, the company said in its earnings report on Wednesday (July 26), as the social network continued to establish itself as the venue of choice for an ever-growing array of online advertisers.
Shares in Facebook, owner of four of the most popular mobile services in the world, rose more than 4 percent to about $173 in after-hours trading. Through Wednesday's close, the stock price had climbed nearly 44 percent this year.
Facebook, which now has more than 2 billion regular users, has been squeezing more ads into its Facebook News Feed while adding more ads to its photo-sharing app Instagram, which has more than 700 million users.
With money cascading from those two services, Chief Executive Mark Zuckerberg said the company was turning attention to monetizing its two messaging services, Messenger and WhatsApp, which have more than 1 billion users each.
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