Facebook has reported a strong rise in quarterly advertising revenues and said its take from mobile users was gaining as it beat analysts’ earnings forecasts.
The world’s leading social network, with more than a billion users, impressed weary investors in its second-ever quarterly report as a public company, sending its shares climbing more than eight percent in after-hours trade to around $21.14.
The company booked a second consecutive quarterly loss, of $59 million in the third quarter, weighed down by accounting rules requiring it to set aside reserves for stock compensation.
Excluding those costs, net earnings were a positive $311 million. Revenues totalled $1.26 billion, up 32 per cent from a year earlier and 6.7 per cent from the second quarter.
Published 24 October 2012, 16:35 IST