Facebook Mobile Ads Now Account for Majority of Ad Revenue

More than a year and a half after investors and analysts first raised concerns about Facebook's potential to monetize on mobile, it appears those concerns can finally be put to rest.

Facebook revealed on Wednesday that mobile ads accounted for 53% of its total ad revenue in the fourth quarter of 2013, the first time that number has topped 50%. The company had come just shy of that in the previous quarter, with mobile ads account for 49% of total ad revenue. Mobile ads accounted for 23% of total ad revenue in the same quarter a year earlier.

Facebook reported earnings per share of $0.31 on revenue of $2.59 billion for the quarter, soundly beating Wall Street estimates for earnings of $0.27 per share on revenue of $2.33 billion. Read more...