Facebook Inc delivered strong evidence it can thrive on smartphones and tablets on Wednesday, reporting a much better-than-anticipated surge in mobile advertising revenue in the second quarter that ignited
a nearly 17 percent share rally.
The world's No. 1 social network also reported an uptick in daily visitors to its service, allaying worries that a new crop of fast-growing mobile upstarts like WhatsApp and Snapchat could cut into the time consumers spend on Facebook.
Facebook's growing appeal to consumers and advertisers combined to deliver the company's strongest ad revenue growth since the third quarter of 2011. Ad prices, which declined at Google and Yahoo, increased 13 percent at Facebook, Reuters reports.
"Facebook has nearly 700 million people that use the platform daily. There's no bigger audience on the
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