Facebook exceeds revenue estimates on blistering ad sales growth

Hugely popular mobile app and burgeoning video advertising business have helped push Facebook’s quarterly advertising revenue to $6.24bn

Facebook’s quarterly profit and revenue blew past Wall Street estimates as the company’s hugely popular mobile app and a push into video attracted new advertisers and encouraged existing ones to spend more.

Facebook shares rose 6.7% in after hours trading on Wednesday.

Continue reading… …read more

J Arthur Rank replaced the flicks with clickety-clicks | Brief letters

Rank’s bingo halls | Marx and Engels | Amazon drones | Children’s books | Interest rates

Stern old Methodist though he undoubtedly was, J Arthur Rank could hardly have objected to the Rank Group’s bid for William Hill (Letters, 26 July), since he was responsible for the conversion of his Odeon cinemas into bingo halls in the 1960s. He had previously, as chairman of the National Savings Authority, been the public face of the introduction of premium bonds in 1956; it is said that one Methodist minister, appearing shortly afterwards on a platform with him, addressed him as “altogether such as I am, except these bonds” (Acts 26: 29).
Peter Grant

• Karl Marx characterised capitalism as “all that is solid melts in air”. Frederick Engels said “Freedom is the recognition of necessity”. German migrant blokes with big beards 150 years ahead of their time (Into the unknown, G2, 27 July).
Nik Wood

Continue reading… …read more

Donald Trump to Russia: hack and publish Hillary Clinton’s ‘missing’ emails

Republican nominee simultaneously seeks to distance himself from Vladimir Putin as Clinton campaign accuses Russia of interfering with US election

Donald Trump appeared to incite Russia to hack into and publish Hillary Clinton’s private emails, as her campaign sounded “alarm” at growing evidence of a foreign power “interfering in an American election”.

In the strongest US response yet to an alleged hacking of Democratic party computers, the Clinton campaign confirmed on Wednesday that she had been briefed by US intelligence officials who believe there is now a “weight of opinion” pointing to Moscow as the original source.

Continue reading… …read more