Facebook Inc reported a 55.8 percent rise in quarterly revenue on Wednesday (November 2), beating analysts’ estimates, as its mobile-advertising sales soared.
Mobile ad revenue accounted for 84 percent of Facebook’s total advertising revenue of $6.82 billion in the third quarter ended Sept. 30, compared with 78 percent a year earlier.
Analysts on average had expected total ad revenue of $6.71 billion, according to research firm FactSet StreetAccount.
Facebook, whose shares were up 1 percent at $128.35 in after-hours trading, said about 1.79 billion people were using its site monthly as of Sept. 30, up 16 percent from a year earlier.
More than 90 percent of Facebook’s users access the social network through mobile devices. Mobile daily average users rose 22 percent to 1.09 billion.
Total revenue rose to $7.01 billion from $4.50 billion, compared with the average estimate of $6.92 billion, according to Thomson Reuters I/B/E/S.
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