If there were any doubts that Facebook is now a mobile company, the social network’s fourth-quarter earnings call Wednesday quashed them all, as mobile ad revenue during the period topped the $1 billion mark for the first time, at $1.25 billion — higher than the company’s total revenue in the fourth quarter of 2012 — and it also accounted for more than one-half of total revenue for the first time, at 53 percent.
The announcement by Instagram Thursday that it would begin incorporating advertising into its feed prompted Sterne Agee Analyst Arvind Bhatia to raise his target price for shares of Instagram parent Facebook to $58 apiece from $50.
Well, it’s a start: Facebook, Twitter, and other sites that are currently blocked in China will be unblocked, but only in a free-trade zone the government is planning to introduce in Shanghai, Reuters reported, via the South China Morning Post.
Facebook will announce Wednesday afternoon how well it did financially in the first quarter of this fiscal year. The company has been aggressive about rolling out ad products, and it deepened its relationship with firms such as Datalogix to give advertisers better purchasing data. Let’s take a look at what others think ahead of Wednesday’s earnings call.
Has Facebook done enough to become a viable advertising vessel? We’ll find out Wednesday, when the company presents its fourth-quarter earnings report. Already, Sterne Agee is standing by its buy rating for Facebook by predicting that Wednesday’s call will be a positive one.
Facebook got some good news on Wall Street Tuesday, as Sterne Agee boosted its share-price target for the social network to $32 from $26 and maintained its buy rating on the stock.
Analysts are starting to chime in on Facebook’s May 18 initial public offering, and so far, the chiming has been in harmony with the social network.