Facebook puts mobile ads test on hold

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.

Advertisements

, , ,

  1. Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: