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Wednesday, October 30, 2013
Mobile Ads Push Facebook's Revenue
Facebook on Wednesday said that a robust growth in its mobile advertising business drove a 60 percent increase in revenue for the third quarter, which ended September 30, 2013.
"For nearly ten years, Facebook has been on a mission to connect the world," said Mark Zuckerberg, Facebook founder and CEO. "The strong results we achieved this quarter show that we're prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy."
Facebook's revenue for the third quarter of 2013 totaled $2.02 billion, an increase of 60%, compared with $1.26 billion in the third quarter of 2012.
Revenue from advertising was $1.80 billion, a 66% increase from the same quarter last year. Mobile advertising revenue represented approximately 49% of Facebook's advertising revenue for the third quarter of 2013.
Payments and other fees revenue was $218 million for the third quarter of 2013.
Facebook also said it earned net income of $425 million, or 17 cents a share, in the three months ended September 30, compared with a net loss of $59 million, or 2 cents a share in the year-ago period.
Facebook also announced a number of new milestones. The social network has now passed 1.19 billion monthly active users. Of those, daily active users passed 728 million on average during September 2013, and the number of monthly active mobile users hit 874 million.