Facebook (FB) Gains Intra-Day Amid Kenshoo Call

Afternoon upside in Facebook (NASDAQ: FB) is being attributed to a positive Kenshoo call on ad trends. Shares are up 1.4% intra-day.

According to the Q1 data from Kenshoo, Social ad spend increased 8% quarter-over-quarter (QoQ), eclipsing the mark set in the Q4 holiday shopping season, and improved 86% year-over-year (YoY), driven by the appeal of new ad types like Facebook Dynamic Product Ads and increased inventory through Instagram. Paid search spend increased 13% YoY, buoyed by increased spend on mobile ads (77% YoY) and product ads (98% YoY). Phones and tablets combined for a majority of clicks in both paid search and social (52% and 71% respectively).

More key findings in the research; overall:

• Social impressions increased 14% QoQ and 6% YoY
• Social clicks increased 19% QoQ and 54% YoY
• Social click-through rate increased 4% QoQ and 45% YoY
• Paid search impressions decreased 5% QoQ but increased 31% YoY
• Paid search clicks decreased 6% QoQ but increased 36% YoY
• Paid search click-through rate decreased 1% QoQ but increased 4% YoY

“Following a fourth quarter which demonstrated the value and performance of product-focused ad types in paid search and social during peak shopping season, marketers continued making good use of specialized ad types in Q1 to keep building momentum,” said Chris Costello, senior director of marketing research for Kenshoo. “New social ad types, new destinations like Instagram, and the continued growth of mobile allowed advertisers leveraging Kenshoo to effectively balance a growing set of opportunities and drive significant growth in impressions and clicks year-over-year.”

“Mobile devices have become the centerpiece of people’s day-to-day lives, enabling everything from communicating with friends to making purchases and everything in between,” said Casey Wilson, director of digital media, Chacka Marketing. “Kenshoo’s industry leading offerings allow us to capitalize on new ad types from top publishers, outmaneuver competitors and connect with people at the most critical moments to fit seamlessly into their treasured mobile experience.”

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• European stocks mixed; Euro banking sector, Meta Platforms in the spotlight
• Hanmi Financial (HAFC) PT Lowered to $18 at DA Davidson