Facebook beats expectations with the help of mobile ads
November 1 , 2013
Growth in mobile advertising has enabled Facebook to increase its revenue by 60 percent in the third quarter.
This beat the expectations of Wall Street and the company reported an earning of $425M in the period between July and September. There was a loss of $59M during the same period a year ago.
Although, analysts expected a revenue of $1.91B, it increased to $2.02B from $1.26B.
The company's advertising revenue has increased by 66 percent and the number of Facebook users has also increased by 18 percent compared to last year.
On an average, 728 million users logged into their Facebook accounts daily in the month of September.