by Karl Denninger
Before you rush out to play with the bulls in the name post-earnings you might consider this: Basically all of their ad revenue is now from mobile.
Mobile is an incredibly difficult proposition over time. Oh sure, you get away with a lot of ads (and thus money) right up front, but mobile users have a tiny little screen and they pay for the data they consume, sometimes by the byte and always have some sort of cap on it.
Further, there’s a huge problem that is coming more and more to the forefront: Granular permissions are now showing up on more and more devices in the Android space; “M” and beyond has it and will continue to. “Take it or leave it”, the former model for Android until Marshmallow was released, is gone forever in the mobile space when it comes to allowing applications to get access to data on your phone and Android is and has been on the vast majority of smartphone handsets.