Facebook mobile advertising business grew by more than 50 percent in the second quarter, as the social network continued to establish itself as the venue of choice for an ever-growing array of online advertisers. Laura Frykberg reports.
A thumbs up for the world's most popular social network. Facebook's mobile advertising business growing more than 50 percent in Q2. Establishing its status as advertising's online venue of choice. (SOUNDBITE) (English) HEAD OF CORPORATE DEVELOPMENT, 7IM, JUSTIN URQUHART STEWART, SAYING: "It's gone from being a nice to have, with a reasonable return, into something which has now become much more mainstream, with a much more stable looking return, particularly as they start adding in the other apps as well." The company, which now has more than 2 billion users... Has squeezed more ads into News Feeds... While also adding them to its photo-sharing app Instagram.. Which has more than 700 million users. Its success, reflected in its shares in after hour trading on Wednesday - rising more than 4 percent. (SOUNDBITE) (English) HEAD OF CORPORATE DEVELOPMENT, 7IM, JUSTIN URQUHART STEWART, SAYING: "If you keep growing those apps, broadening it out, that's when it'll actually be a greater threat to Google, so Google watch out. You do have a serious rival." On Monday, Google's owner, Alphabet reported a 21 percent increase in quarterly revenue... Although it started from a larger base than Facebook... The business - all about adding friends - instead perhaps, gaining a bigger foe.