Photo: AFPSan Francisco: Facebook Inc.’s fourth-quarter revenue climbed more than forecast, driven by advertisers’ continued push to reach consumers on mobile phones. The world’s largest social-media company said sales jumped 51% to $8.81 billion, topping the $8.51 billion average analyst projection. Facebook also expanded video advertising, drawing ad dollars that might otherwise have gone to television commercials. “Facebook and Google are the two foundational elements to all digital advertising,” said Brian Wieser, an analyst at Pivotal Research Group. Around the US presidential election last year, the company faced an uproar over the use of its social network to spread fake news.

Source: Mint February 02, 2017 03:22 UTC