Advertisers' eager turn to mobile boosts Facebook shares

09/11/2013 | Bloomberg Businessweek

Thanks to clear indications that advertisers are flocking to Facebook's mobile platform, Facebook shares advanced to a record high of $45.98 on Wednesday. Analysts note that mobile accounted for 41% of the social network's ad revenue in the second quarter, up sharply from 30% in the first quarter. "There's growing recognition that 'Hey, this is not just a fad -- it's not going away, it's becoming ingrained in people's lives.' ... Advertisers are finding that's a very attractive place to target," said Martin Pyykkonen, an analyst at Wedge Partners.

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