Archive for December 20th, 2012
Facebook said it is halting a test of placing ads in “apps” that synch to the leading social network, renewing questions on how it will boost revenues from members using smartphones or tablets.
“We are pausing our mobile ads test off of Facebook,” a company spokesman said in an email response to an AFP inquiry.
“While the results we have seen and the feedback from partners have been positive, our focus is on scaling ads in mobile news feed before ads off of Facebook.”
Facebook shares were down slightly on the news, slipping less than a percent to $27.60 in late afternoon trading on the Nasdaq exchange.
Facebook stock rallied in October after the company reported quarterly earnings that showed gains in tapping the mobile advertising market.
During an earnings call with analysts, founder and chief executive Mark Zuckerberg said the company was “just getting started with our mobile product development and monetization.
Facebook went public in May with a resounding flop, its $38 initial public offering price immediately plunging to eventually less than half that.
That angered many investors who had built hopes that the company’s huge popularity would result in huge gains in the share price.
Samsung Electronics, the world’s No.1 memory-chip maker, said on Thursday it has completed talks with the state government of Texas where it plans to invest $3.9 billion to expand system-chip production lines and that the expansion would proceed.