Connection restored

31 Oct 2013 By Robert Cyran Follow @rob_cyran

Mark Zuckerberg’s social network once looked stymied by the smartphone migration. Its solid Q3 results show just how Facebook has answered the call. Mobile is lifting margins and the shift in revenue should persist. The growth is also a good sign for would-be Twitter investors.

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Facebook on Oct. 30 reported revenue of $2 billion for the third quarter, an increase of 60 percent from a year ago. The social network earned $425 million, or 17 cents a share, compared to a loss of $59 million, or 2 cents a share, in the same quarter last year.
The company said it had 1.2 billion users as of Sept. 30, an increase of 18 percent year-on-year. The number of monthly active users increased 45 percent, to 874 million.
In after-hours trading, Facebook shares were 6 percent higher.

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