Reuters: Technology News: Facebook shares leap 20 percent as users, mobile ads climb

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Facebook shares leap 20 percent as users, mobile ads climb Jul 24th 2013, 20:57 Tweet Share this Email Print Related News UPDATE 4-T. Rowe Price posts Q2 outflows, shares down 3:15pm EDT Motorola Solutions cuts sales forecast second time in three months 1:54pm EDT AT&T quarterly profit misses Wall Street estimates Tue, Jul 23 2013 Strong iPhone sales buoy Apple's third quarter, shares climb Tue, Jul 23 2013 Third Point to sell most of Yahoo stake, Loeb to quit board Mon, Jul 22 2013 Analysis & Opinion Google shows hints of life like a newspaper Tracking Sensex: top gainers, losers in June quarter The Facebook logo is pictured at the Facebook headquarters in Menlo Park, California January 29, 2013. Credit: Reuters/Robert Galbraith By Alexei Oreskovic Wed Jul 24, 2013 4:44pm EDT (Reuters) - Facebook Inc's revenue in the second quarter increased 53 percent, surpassing Wall Street targets, as the Internet company continued to grow its mobile ads business. Shares of Facebook jumped 17 percent to $30.59 in afterhours trading on Wednesday. The world's No.1 online social network said it earned $333 million in net income, or 13 cents a share, versus a net loss of $157 million, or 8 cents a share, in the year ago period. Excluding certain items, Facebook said it earned 19 cents a share. Facebook's $1.813 billion in second-quarter revenue was above the average analyst expectation of $1.618 billion, according to Thomson Reuters I/B/E/S. Facebook had $1.184 billion in revenue in the year ago period. The company said that mobile ads accounted for roughly 41 percent of its total ad revenue in the second quarter, up from 30 percent in the first quarter of the year. (Reporting by Alexei Oreskovic; Editing by Phil Berlowitz) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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