Facebook beats expectations
October 28, 2014 6:07 pm
Facebook has reported third quarter revenues of $3.2bn (£1.98bn) comfortably ahead of analysts’ forecasts and 59% higher than the same period last year.
The social network also reported an $806m profit, a 90% increase on the same quarter a year ago.
The increased profits were driven by another formidable three months for Facebook’s advertising business.
Ad revenues for July to September were sharply higher than a year ago.
Perhaps most telling as an indicator of its future profitability was Facebook’s performance in mobile advertising.
Mobile ads now make up 66% of its total advertising revenue.
A year ago they accounted for less than half of it, and at the time of its stock market debut in 2012 Facebook’s mobile ads barely brought in any money at all.
Just as important to social networks as their earnings, are their user numbers, which in Facebook’s case were also better than many expected.
As of the end of September, Facebook had 1.35 billion active users every month, 14% more than in 2013.