30 October 2013
Last updated at 17:23 ET
Revenue from advertising grew by 66% to $1.8bn, with nearly half of that coming from mobile ads.
"The strong results we achieved this quarter show that we're prepared for the next phase of our company," said Mark Zuckerberg in a statement.
Facebook's shares surged 15% in after hours trading.
Shares in the company have nearly doubled in value since July, when it first announced a big jump in its mobile advertising revenue.
Continue reading the main story
Facebook revenue surges 60% on strong ad sales
Facebook's share price has climbed to record highs in recent weeks
Social
networking giant Facebook reported a 60% surge in revenue, to $2.02bn
(£1.26bn), in the third quarter, generating profits of $425m.
"The strong results we achieved this quarter show that we're prepared for the next phase of our company," said Mark Zuckerberg in a statement.
Facebook's shares surged 15% in after hours trading.
Shares in the company have nearly doubled in value since July, when it first announced a big jump in its mobile advertising revenue.
Continue reading the main story
Mobile push
The company has made a concerted push
to boost its mobile offering, and now says that 874 million of the
site's more than one billion users access Facebook on their phone.
"It's a pretty incredible sign of how Facebook has evolved as a company," he said.
By growing its mobile users, the company has also been able to sell more mobile ads, a crucial metric that is widely watched by analysts.
Facebook has grown its share of the mobile ad market in the US from just 9% last year to 14.9% this year, according to research firm eMarketer.
But Google is still by far the leader, accounting for close to half of all mobile ad spending in the US.
Revenue from mobile ads was around $880m this quarter, compared to just $150m a year earlier.
However, Facebook's user growth in the US and Canada appears to have slowed dramatically.
This is significant as the site earns about $4.19 for each user in the US and Canada, compared to just $0.74 for users in high-growth areas such as Asia.
Related Stories
From other news sites
-
Investors Business Daily Facebook 3Q results fly past expectations 21 mins ago
-
Japan Today Facebook results fly past expectations 30 mins ago
-
theguardian news Facebook shares soar after strong earnings boosted by mobile advertising 55 mins ago
-
The Independent Facebook smashes expectations with latest quarterly figures 1 hr ago
-
Telegraph Facebook results smash expectations 1 hr ago
No comments:
Post a Comment
Please leave a comment-- or suggestions, particularly of topics and places you'd like to see covered