The social network fared much better than expected with 49 percent of revenue, or $882 million, gleaned from its mobile products. October 30, 2013 1:15 PM PDT The front desk inside building 16 at Facebook's Menlo Park campus. Facebook made $2.02 billion, up 60 percent from last year, and earned an adjusted 25 cents per share in the third-quarter of 2013. More importantly, the company continued its strong showing on mobile where it made 49 percent of its advertising revenue. The numbers came in handily ahead of Wall Street's expectations of 19 cents per share on $1.91 billion in revenue. Facebook said it finished the quarter with 1.19 million monthly active users, 728 million daily active users, and 874 mobile monthly active users. The numbers are especially impressive because they show that Facebook's engagement rate -- the ratio of daily to monthly users -- is still growing. Engagement registered at more than 61 percent, which should give investors confidence in the social network's ability to keep members glued to its Web and mobile apps even as other social apps like Snapchat and WhatsApp balloon in size. Related posts Predicting relationship status: Facebook knows more than you think Facebook contemplates tracking your every move BlackBerry reportedly propositioned Facebook for a bid Facebook's Messenger app: Practical is the new sexy Facebook's marketing biz dissed by Forrester The social network's excellent quarter was punctuated by repeat success on mobile. Facebook made 49 percent of its $1.8 billion in advertising revenue from mobile ads. Just one quarter ago, Facebook was a rocky public company with an unproven business model. Three months later, the social network's shocking success on mobile has won over skeptical investors. In that time, Facebook's share price has climbed from a depressed $26.51 to $49.02, where it closed Wednesday afternoon, meaning the company's market value has grown by a remarkable 88 percent. Facebook's stock price is soaring in after-hours trading. Shares are up more than 12 percent since the earnings release dropped. Facebook's Q3 2013 Report by CNET News This story is developing...
The social network fared much better than expected with 49 percent of revenue, or $882 million, gleaned from its mobile products.
The front desk inside building 16 at Facebook's Menlo Park campus.
Facebook made $2.02 billion, up 60 percent from last year, and earned an adjusted 25 cents per share in the third-quarter of 2013. More importantly, the company continued its strong showing on mobile where it made 49 percent of its advertising revenue.
The numbers came in handily ahead of Wall Street's expectations of 19 cents per share on $1.91 billion in revenue.
Facebook said it finished the quarter with 1.19 million monthly active users, 728 million daily active users, and 874 mobile monthly active users. The numbers are especially impressive because they show that Facebook's engagement rate -- the ratio of daily to monthly users -- is still growing. Engagement registered at more than 61 percent, which should give investors confidence in the social network's ability to keep members glued to its Web and mobile apps even as other social apps like Snapchat and WhatsApp balloon in size.
Related posts
- Predicting relationship status: Facebook knows more than you think
- Facebook contemplates tracking your every move
- BlackBerry reportedly propositioned Facebook for a bid
- Facebook's Messenger app: Practical is the new sexy
- Facebook's marketing biz dissed by Forrester
The social network's excellent quarter was punctuated by repeat success on mobile. Facebook made 49 percent of its $1.8 billion in advertising revenue from mobile ads.
Just one quarter ago, Facebook was a rocky public company with an unproven business model. Three months later, the social network's shocking success on mobile has won over skeptical investors. In that time, Facebook's share price has climbed from a depressed $26.51 to $49.02, where it closed Wednesday afternoon, meaning the company's market value has grown by a remarkable 88 percent.
Facebook's stock price is soaring in after-hours trading. Shares are up more than 12 percent since the earnings release dropped.
Facebook's Q3 2013 Report by CNET News
This story is developing...
