Mobile device users are going to see more ads a lot sooner than researchers anticipated. The U.S. mobile advertising market is growing swiftly. It will nearly triple this year to more than $4 billion, fueled by an uptick in advertising sales at tech giants Facebook and Google and also at Twitter, EMarketer said in a new report.
Google is expected to ring up nearly $2.2 billion in mobile ad sales this year, mostly from its search ad business. Facebook is expected to generate more than $339 million after rolling out mobile ads this year.
Bank fined over Facebook IPO
Morgan Stanley continues to deal with fallout from the troubled initial public offering of Facebook. On Monday, Massachusetts’ top financial regulator, William Galvin, fined Morgan Stanley $5 million for violating securities laws. Galvin accused the bank of improperly influencing the IPO process. A consent order alleges that a senior Morgan Stanley banker coached Facebook on how to share information with stock analysts who cover the social media company, a potential violation of a landmark Wall Street settlement in 2003.
— From wire reports