Going mobile

24 October 2012 By Robert Cyran Follow @rob_cyran

The social network’s mobile ad business grew sixfold in three months and provided 14 pct of ad sales in Q3. Worries remain about durability, cost control and competition. But for the first time, the shift to mobile devices seems an opportunity for Facebook rather than a threat.

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Facebook on Oct. 23 reported third-quarter revenue of $1.3 billion, an increase of 32 percent from the same period last year. The social network had a net loss of $59 million for the quarter. On the non-GAAP measure Facebook prefers, the company’s earnings were 12 cents a share, in line with the same period last year.
The company now has more than 1 billion monthly active users, and more than 600 million use the service on mobile devices.
Facebook shares rose more than 13 percent in after hours trading to top $22 each.

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