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Facebook shares rebound from dismal IPO
by Staff Writers
San Francisco, California (AFP) July 30, 2013


Facebook toys with mobile game publishing
San Francisco, California (AFP) July 30, 2013 - Facebook on Tuesday got into the business of publishing mobile games, offering developers help at going global with smartphone or tablet titles in exchange for a share of revenue.

The leading social network announced a Facebook Mobile Games Publishing pilot program in which it will work with small or medium-sized developers and promote their works in the online community.

"There are many developers with awesome mobile games who don't yet have the upfront resources for a paid strategy, and we want to help them find a path to success," Facebook software engineer Victor Medeiros said in a blog post.

"We are using our unique reach and targeting capabilities to help games in our program find and engage a valuable audience of the right users."

More than 800 million members of the social network use Facebook mobile applications, and 260 million of those people play games on Facebook, according to Medeiros.

Facebook has made a priority of following its more than one billion members onto smartphones and tablets, and of finding ways to make money from visits by users on mobile devices.

Along with mobile ads in the form of "promoted" posts, Facebook makes commissions for getting members to install applications made by outside developers.

Facebook shares have climbed to new highs since the California-based company last week reported quarterly earnings showing surging mobile revenues that some saw as a turning point for the social networking giant.

The shares were up again on Tuesday, hitting $37.18 in late trades.

Facebook shares fell sharply after the highly anticipated IPO in May of last year and have yet to get back to the offering price of $38.

Analysts have been keen for Facebook to prove it can profit from members increasingly opting for smartphones or tablets instead of desktop computers to get online.

"This program is designed to reach people who already play games on Facebook with new games that may interest them," Medeiros said of mobile games publishing.

"We'll also be sharing analytics tools and the expertise we've gained from helping games grow on our platform for more than six years."

Facebook shares on Tuesday nearly climbed their way back to the $38 mark from which they plunged after a dismal debut in the stock market last year.

Facebook stock was $37.61 at the close of trading on the Nasdaq exchange after coming within five cents of reclaiming the price set at its initial public offering in May of 2012.

Shares have been steadily rising since quarterly earnings figures last week showed surging revenues from members using smartphones or tablets to access the social network.

Facebook shares plummeted after the highly anticipated IPO last year and languished, primarily due to doubts about the California-based company's ability to make money from members turning to mobile devices to get online.

The company has made a priority of following its more than one billion members onto smartphones or tablets.

Facebook reported net income in the second quarter of $331 million compared with a loss of $157 million in the year-ago period.

Revenue for the quarter that ended June 30 climbed to $1.81 billion, up 53 percent from the same period a year earlier.

Some 41 percent of its ad revenues came from mobile, compared with 30 percent in the prior quarter and virtually nothing a year ago.

Jefferies analyst Brian Pitz cited "impressive results that we believe ameliorate key investor concerns."

Facebook last year integrated ads into people's newsfeeds, whereas previously they had been segregated onto the right side of the screen and not visible on smartphones.

"News feed ads work," Facebook chief financial officer David Ebersman said on an earnings conference call with analysts.

Of Facebook's 1.15 billion monthly users as of June 30, 819 million use a mobile device. Of Facebook 669 million customers who use the site daily, 469 million use a mobile device, according to Facebook.

Facebook on Tuesday got into the business of publishing mobile games, offering developers help at going global with smartphone or tablet titles in exchange for a share of revenue.

The leading social network announced a Facebook Mobile Games Publishing pilot program in which it will work with small or medium-sized developers and promote their works in the online community.

Of the more than 800 million people who use of the social network's mobile applications, about 260 million play games on Facebook, according to company software engineer Victor Medeiros

Along with mobile ads in the form of "promoted" posts, Facebook makes commissions for getting members to install applications made by outside developers.

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