Facebook revenues rise on mobile advertising

Facebook revenues rise on mobile advertising

Facebook has seen a 60 per cent increase in revenues compared to this time last year, with mobile now accounting for almost half the company’s advertising revenue.

Releasing its third quarter report for 2013, Facebook said revenues for totalled US$2.02 billion, a 60 per cent increase from US$1.26 billion in 2012.

The company said growth had been fuelled by advertising income, which leapt 66 per cent year-on-year, bringing in US$1.8 billion of the total revenues for the quarter, with mobile advertising accounting for 49 per cent of advertising revenue in the third quarter.

“For nearly ten years, Facebook has been on a mission to connect the world,” said Mark Zuckerberg, Facebook founder and chief executive officer (CEO).

“The strong results we achieved this quarter show that we’re prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy.”

The number of daily active users on Facebook also grew by 25 per cent as compared to Q3 2012, with 728 million people actively using the service each day.

Similarly, mobile monthly active users surged by 45 per cent year-on-year, reaching 874 million monthly active users, while the number of mobile daily active users hit 507 million.

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