As Facebook’s stock tumbled after hours on concerns about Facebook’s slowing growth, CEO Mark Zuckerberg, COO Sheryl Sandberg and CFO David Ebersman hosted an investor call in which they stressed the potential of mobile and social ads.
One particularly compelling tidbit: The company is selling $1 million in its new ad format “Sponsored Stories” every day, and over half of that is mobile.
Zuckerberg kicked off the call by focusing on mobile—saying that’s where they’re “investing heavily” because of massive potential. People who access Facebook on their mobile devices are 20 percent more likely to access it on a given day. But for now, that shift to mobile is a problem—and responsible for slowing growth—since they’re just starting to display mobile ads.
And as committed as Zuckerberg is in distributing ads to users mobile phones, he says “it wouldn’t make sense” for the company to “build out a whole phone.”