Facebook’s stock surged in after-market trading after it reported better-than-expected profit and sales in the third quarter—further evidence that the shift among marketers to mobile advertising is gathering pace and the social media giant remains a leader of the pack.
Earnings per share were 25 cents, while revenues for the three-month period ended Sept. 30 were $2.02 billion. Both figures topped analyst expectations.
Nearly 1.2 billion people on the planet are now monthly active users of the network, while 728 million people use the platform daily.
On mobile – considered the future of both advertising and the company – saw usage levels rise meaningfully, with 874 million monthly users compared to 819 million in the second quarter. A jump of 6.7 per cent.
Daily users updating profiles, posting photos and interacting with friends and family jumped to 254 million from 219 million, a rise of 16 per cent.
Mobile advertising jumped to 49 per cent of revenue, or around $1 billion.
The stock surged 15 per cent on the earnings performance, furthering gains made in recent months. The stock price is up 84 per cent year to date.
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