What Happened
On Wednesday, Facebook posted its 2016 Q1 earnings report, showing strong growth in ad revenue with a 57% year-over-year increase to $5.2 billion, comfortably beating Wall Street estimates. The increase is mostly attributed to mobile ads, which accounted for about 82% of its overall quarterly ad revenue. The social network also announced that it added over 60 million new users in the past quarter, bringing its total monthly active users up to 1.65 billion.
Why Brands Should Care
As brands shift their ad spending from traditional media to digital and especially mobile platforms, Facebook is quickly solidifying its leading position in mobile advertising thanks to the continued popularity of its mobile apps. During the first quarter, the company made a strong push into live-streaming, further establishing itself as a mobile video destination ready for more video ads and branded video. For brands looking to connect with a mobile audience, Facebook, along with the several other mobile apps it owns, remains a great option given the vast amount of user data it owns and the variety of mobile ad products it offers.
Source: The Marketing Land