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.
Facebook posted strong second-quarter earnings, with 88 percent of its total revenue coming from advertising, but would it have been able to deliver similar results in 2003? No, according to Kenshoo Chief Marketing Officer Aaron Goldman.
Facebook’s share of the worldwide mobile ad market is expected to nearly triple in 2013, reaching 15.8 percent, after coming in at 5.35 percent in 2012, according to the latest projections from market research outfit eMarketer.
2Q: Facebook Reaches 1.15B Monthly Active Users, 819M Mobile MAUs; Revenue Up 53% Vs. 2Q 2012, GAAP Net Income Of $333M
Facebook reached 1.15 billion monthly active users as of June 30, up 21 percent compared with the second quarter of 2012, while daily active users were up 27 percent to 699 million, and mobile MAUs leaped by 51 percent to 819 million, the company reported as part of its second-quarter financial results.
Sterne Agee pressed the like button on Facebook in a research note Monday, rating its stock “buy” and setting a target price of $37 per share, and citing the social network’s mobile progress and growth by its Facebook Exchange real-time ad-bidding product, Barron’s reported.
Application analytics provider AppData announced the launch of its proprietary iOS application and developer revenue estimates. Metrics are provided by week, month, and year-to-date for the top-grossing applications and developers on iOS.
Although Facebook’s overall revenue took a hit from the fourth quarter of the 2012 fiscal year, the company earned $1.25 billion in ad revenue in the first quarter of 2013 — 30 percent of which came from mobile ads. Total revenue hit $1.46 billion, a 38 percent increase from the first quarter of 2012.
Facebook received some lukewarm news on Wall Street courtesy of analyst Jason Helfstein of Oppenheimer & Co., who reiterated an “outperform” rating on the social network’s stock and lowered his target price to $32 per share from $33.
Software is the new snake oil. At the click of a button, you have 1 million fans, incredible engagement, sales coming out of your ears, and your car parked for you. Only that last one is true, by the way. Just because there are more than 1 billion users on Facebook, doesn’t mean your Facebook page has Field of Dreams on all of them. So let’s look at the most common fibs things by tool providers in our space. Nod knowingly or comment below if you recognize them.