By Tim Jimenez
PHILADELPHIA (CBS) – Facebook released their first earnings report since becoming a public company two months ago.
Facebook says they brought in $1.18 billion, up from the $895 million reported this time last year. But there was a net loss of $157 million, or 8 cents a share.
What could this mean for the hundreds of millions of Facebook users? Marketwatch.com Technology editor Dan Gallagher says the company and its investors want to see more dollar signs coming through an ever-expanding market.
“They’ve got to be where the user is going and the user is going to mobile devices,” which could mean more ads on the Facebook newsfeed on your phone.
“As more people flock to these mobile devices, they need to figure out a way to bring ads to that and make money through that, while at the same time not turning off the user.”
CEO Mark Zuckerberg says social ads are more effective than traditional advertisements, and he’s hoping businesses and investors see that too.