Facebook is really hitting it in online advertising market as it just announced near triple income.
It seems Facebook is where everyone is going for online marketing these days as the social media Giant recently announced record breaking profits in a period where new publishers are announcing cutbacks. The company reported a 59% year-over-year increase in advertising revenue on Wednesday.
Income for three months went high from $896m to $2.38bn in a year. Much of the sharp rise came as a result of great income from mobile advertising, which accounted for a whopping 84% of its total ad revenue in the third quarter of the year.
The main reason why this comes as a big new for Facebook is because popular traditional publisher like Daily Mail, the Guardian, New York Times and Wall Street Journal all announced layoff in recent weeks so as to stay profitable.
A popular analytics firm called eMarketer reported that the entire digital ad market for 2016 is estimated at $67.1bn. The great success of Facebook in online marketing can be linked to the social media user base which has climbed to 1.79bn monthly active users and 1.18bn who log in at least once a day.