Editor’s Picks 27 July 2016 at 23:47 GMT

Facebook's quarterly report owes a lot to the phone in your pocket

For every baby picture posted and every soapbox rant you see on Facebook, the social platform is raking the dough in, big time. That ability to cash in on its users makes Facebook well-positioned for the future, advertising industry experts say. Michelle Castillo writes that Facebook just announced its second-quarter earnings and blew Wall Street estimates out of the water. Revenue was at $6.44 billion, up 59% from last year. It beat the Thomson Reuters consensus of $6.02 billion.
Read full article at CNBC


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