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 Facebook’s mobile gains spur growth
Facebook’s mobile gains spur growth

Facebook’s mobile gains spur growth


IOL Business/ Reuters - Oct 24th 2012, 07:32

San Francisco - Facebook posted a better-than-expected 32-percent jump in third-quarter revenue to $1.26-billion, as the company reignited advertising growth with the help of gains in mobile.

The company's shares leapt seven percent to $20.83 in after-hours trading on Tuesday.

Advertising revenue increased 36 percent year-on-year to $1.09-billion, but revenue from its payments and other businesses increased just 13 percent to $176-million.

The world's top online social network company posted a net loss of $59-million, or two cents a share, in the three months ended September 30. It had a profit of $227-million or 10 cents a share a year earlier.

Its third-quarter revenue surpassed the average analyst expectation of $1.23-billion, according to Thomson Reuters I/B/E/S. - Reuters  

Read more about: advertising revenue | mobile | social network |

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