Facebook Inc reported a 55.8 per cent rise in quarterly revenue, beating analysts' estimates, as its mobile-advertising sales soared. Analysts on average had expected total ad revenue of $6.71 billion, according to research firm FactSet StreetAccount. Total revenue rose to $7.01 billion from $4.50 billion, compared with the average estimate of $6.92 billion, according to Thomson Reuters I/B/E/S. Total ad revenue is forecast to rise to about $26 billion, an increase of about 52 per cent. Ad growth questionsHowever, there are questions about how long Facebook can continue to boost mobile ad revenue, given limits to the number of ads that Facebook can show each user.

Source: CBC News November 02, 2016 20:46 UTC