Advertisers Grow To Like Facebook

Facebook says its mobile advertising business nearly doubled from the third to fourth quarter of 2012. As a whole, the company's ad business grew at its fastest rate since it went public last May. Some analysts felt the social network had initially been too slow to get into the mobile market.

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RENEE MONTAGNE, HOST:

NPR's business news starts with advertisers liking Facebook.

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MONTAGNE: Facebook says its mobile advertising business nearly doubled from the third to fourth quarter of 2012. As a whole, the company's ad business grew at its fastest rate since it went public last May.

STEVE INSKEEP, HOST:

Some analysts felt the social network had initially been too slow to get into the mobile market. More and more of Facebook's customers login with smartphones and tablet. The company counted 680 million mobile users last month, which it says is that almost 60 percent from the year before.

MONTAGNE: CEO Mark Zuckerberg says the company is not looking to maximize profits in the coming year. He says Facebook's focus is investment in new services, such as its online gift store.

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