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According to the analyst, Facebook’s third-quarter mobile advertising revenue, at $150 million or 14 percent of total advertising revenue, was “significantly better” than most predictions. Revenue run rate also nearly doubled to an annualized run rate in excess of $1 billion, Bhatia said, which was impressive given the social network only started showing mobile ads at the end of this year’s first quarter.
“We continue to believe Facebook’s market opportunity remains quite large,” the analyst wrote. “With improved visibility on the company’s mobile transactions, the majority of the lock-up expirations now behind us, and the potential opportunity from new products, we remain positive on Facebook shares.”
How Will Bhatia’s Analysis Affect Facebook’s Stock?
The social network’s stock has clearly left its worst days behind and is ready to look past the troubles and doubts that plagued the company in the first few months post the May IPO. This bullish report will only serve as another positive catalyst for Facebook, which closed 0.81 percent up at $26.15 on Tuesday.
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