Facebook Just Grew Its Mobile Business By 22-Fold

By Evan Niu, CFA, Eric Bleeker, and Chris Hill – Jul 30, 2013 at 9:00PM

NASDAQ: META

Meta Platforms

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Facebook just posted massive growth in its mobile ad business, properly dispelling the myth that the social network can't monetize its mobile user base.

Facebook (META 0.14%) impressed investors with its second-quarter earnings, thanks in large part to its mobile ad business soaring to account for 41% of ad sales. That translates into over $655 million in mobile ad revenue last quarter. That figure was just 3%, or $30 million, a year ago. Facebook just grew its mobile ad business by 22-fold.

In the video below, Fool analysts Evan Niu, CFA, and Eric Bleeker, CFA, discuss how impressive Facebook's quarter was and how the company is proving its ability to monetize mobile users.

The relevant segment can be found between 0:00 and 4:26.

Chris Hill has no position in any stocks mentioned. Eric Bleeker, CFA, has no position in any stocks mentioned. Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Facebook. The Motley Fool owns shares of Facebook. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.