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Business

Facebook big but nimble, delivers an eyepopping act

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Opening sequence

Business

Facebook big but nimble, delivers an eyepopping act

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00:00:02
>> Facebook does it again. Even with its already massive size, the social media behemoth delivered a 60% jump in revenue in the latest quarter to nearly $6.5 billion, the smashing results, thanks to its hugely popular mobile app that lured in new advertisers and got old ones to spend more.
00:00:23
And Facebook is poised for even more growth to come, says Reuters Global Tech editor, Jonathan Weber.>> There's a number of things that they not even begun to monetize yet, as they say, WhatsApp, which has something in the neighborhood of a billion users now as well. Facebook Messenger also at a similar level.
00:00:42
And they haven't really begun to make money on those things. So there's tremendous upside there.>> Facebook has also gotten a boost from ad money that's moved away from TV to the Internet in mobile platforms, and it's been spending big to beef up its mobile video market. But some point to strong competition from YouTube and Snapchat as a concern, and especially Snapchat's younger crowd versus the aging Facebook users.
00:01:07
>> Facebook has gotten such an amazing critical mass where really kind of everyone is on Facebook. And I think the danger to Facebook from young people moving to other platforms is a theoretical danger that's been there for a long time, but we have never seen any sign that that is actually impacting their revenue growth.
00:01:28
>> Facebook's saying more than 1.7 billion people around the world check in at least once a month, over a billion check in every day. It's no surprise investors have given them a thumbs up by sending the stock to record highs to more than three times its 2012 IPO.