It has been a challenging year for Facebook, with a disappointing IPO and second quarter results.
But finally Facebook has some good news, with their third quarter results showing that they are starting to figure out how to make money from Mobile.
The results show that Facebook made $150 million from mobile ad sales (14% of overall revenue), compared to around $40 million in the second quarter. And both of these are a large increase from the first quarter where mobile revenue was next to nothing.
As further evidence of Facebook’s increase success in mobile, their monthly active mobile users reached 604 million, an increase of 61% year on year.
Mark Zuckerberg, Facebook founder and CEO, said: “As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600 million people now share and connect on Facebook every month using mobile devices.
“People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetisation into our product teams in order to build a stronger, more valuable company.”
The companies overall revenue was up by 32% at $1.26 billion, however the company reported a loss of $59 million for the quarter.