Facebook narrows loss in Q3 as revenues gain

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.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry