What? Facebook reported a strong third-quarter financial results with advertising revenue up 60%.
Why it matters: Mobile is one of the main drivers of growth this quarter.
Revenue grew 60 percent to $2.02 billion from $1.26 billion, helped by increasing mobile advertising revenues.
Mobile advertising revenue represented approximately 49% of advertising revenue for the third quarter of 2013. In the second quarter, mobile ads amounted to 41 percent of the total. Facebook had 874 million monthly mobile users at the end of the quarter, up 45 percent year-over-year. Facebook said it counts roughly 507 million daily active mobile users as well.
There were 1.19 billion Facebook users as of the end of September, up 18 percent from a year ago. Of these, an average of 728 million users logged in every day during the month of September, up 25 percent from a year ago.
The company said it earned net income of U.S $425m, or 17 cents a share, in the three months to the end of September, compared with a net loss of U.S.$59m, or two cents a share the same time last year.
