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.
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.
Even though Android overlay Facebook Home was introduced April 4, after the first quarter had already ended, those expecting Home to be a big part of Facebook’s first-quarter earnings call Wednesday were sorely disappointed.
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.
Facebook’s goal of maintaining the integrity of its user experience while increasing advertising revenue at the same time is being achieved by its mobile sponsored stories, but the social network’s test of promoted posts is a bust, according to the results of a survey of more than 750 Facebook users in the U.S. last week by Sterne Agee, using the SurveyMonkey platform.