You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.


  • Forbes listgives cityNo. 11 rank
    Forbes has ranked Fort Wayne No. 11 on its list of Opportunity Cities. The 19-city list, published Thursday, put Columbus, Ohio, at the top.
  • Alibaba stock soars 40% in massive IPO
    NEW YORK – Alibaba debuted as a publicly traded company Friday and swiftly climbed more than 40 percent in a mammoth IPO that offered eager investors seemingly unlimited potential for growth and a way to tap into the burgeoning Chinese
  • China levies record fine
    BEIJING – Drug giant Glaxo­SmithKline was fined $492 million Friday for bribing doctors in China in the biggest such penalty ever imposed by a Chinese court.
Associated Press
Michael Goodwin of HTC displays an HTC First cellphone with Facebook interface. Facebook is banking on mobile ads.

Mobile ads driving up revenue at Facebook

– Facebook Inc.’s first-quarter sales topped estimates, a sign that Chief Executive Officer Mark Zuckerberg is making headway in a drive to make more money from mobile ads.

First-quarter sales rose 38 percent to $1.46 billion, Facebook said in a statement today. That compares with the average estimate of $1.44 billion, according to data compiled by Bloomberg.

So far this year, Facebook has unveiled new software for smartphones, added tools for marketers and revamped News Feed, the first thing members see when logging onto the network of more than 1 billion.

Investments in upgrades to attract more users on mobile devices and advertisers are beginning to pay off, according to Michael Pachter, an analyst at Wedbush Securities Inc. in Los Angeles.

“They’re monetizing it better and better and better,” said Pachter. “They’re making progress – and dramatic progress.”

During the first quarter, mobile made up about 30 percent of advertising revenue, up from 23 percent during the fourth quarter. Pachter had predicted about 25 percent.

Facebook, based in Menlo Park, Calif., was little changed in extended trading. The shares declined 1.2 percent to $27.43 at the close in New York, leaving them down 28 percent since the company’s initial public offering a year ago.

First-quarter profit excluding certain items was 12 cents a share, compared with the average analyst projection of 13 cents.

Operating costs rose 60 percent to $1.09 billion, with Facebook adding staff and investing money into computer systems and software.

Facebook is projected to grab 13 percent of U.S. mobile-ad dollars this year, up from 9.5 percent in 2012, according to EMarketer Inc.