By Miguel R. Camus
Philippine Long Distance Telephone Co. (PLDT) upped the ante in the industry’s promo rivalry as it expanded its “free Internet” promo to a wider number of subscribers, lengthened the offer period to January next year and matched rival Globe Telecom’s free Facebook offer.
Facebook stock jumped to record highs Thursday as strong earnings from the leading social network sparked fresh buying.
Facebook profits tripled to $642 million in the first quarter on a 72-percent surge in revenues helped by strong gains in mobile users and mobile advertising.
For the first time, U.S. Internet advertising revenue has surpassed that of broadcast television thanks to sharp growth in mobile and digital video ads.
Facebook CEO Mark Zuckerberg reaped a $3.3 billion gain last year by exercising stock options in the social networking company that he founded in a Harvard University dorm room.