Facebook reports 82% YOY surge in ad revenue with mobile accounting for over half in Q1

facebookFacebook has reported an 82 per cent year on year hike in advertising revenue to $2.27bn, with mobile advertising accounting for 59 per cent of the total, in the first quarter of 2014.

Mobile ad revenue surged from 30 per cent in the first quarter of 2013 to 59 per cent, while overall revenue for the social network jumped 72 per cent to $2.5bn in Q1 this year.

The results confirm Facebook as a chief competitor to Google in the mobile advertising space. The global mobile ad market grew 105 per cent to $17.96bn in 2013, according to eMarketer up from just $8.8bn in 2012.

Facebook accounted for a 17.53 per cent share of worldwide mobile ad spend in 2013, eMarketer estimates, up from 5.37 per cent in 2012. Google took 49.3 per cent of the worldwide mobile ad market last year, down slightly from 52.36 per cent share in 2012. eMarketer estimates that Facebook will steal more share away from Google this year, increasing to 21.67 per cent, while Google decreases to 46.78 per cent.

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