DHAKA: Social networking giant Facebook reported a 60% surge in revenue, to $2.02bn, in the third quarter, generating profits of $425m.
Revenue from advertising grew by 66% to $1.8bn, with nearly half of that coming from mobile ads.
‘The strong results we achieved this quarter show that we`re prepared for the next phase of our company,’ said Mark Zuckerberg in a statement, reports the BBC.
Facebook’s shares surged 15% in after hours trading.
Shares in the company have nearly doubled in value since July, when it first announced a big jump in its mobile advertising revenue.
The company has made a concerted push to boost its mobile offering, and now says that 874 million of the site’s more than one billion users access Facebook on their phone.
Speaking during a conference call, Zuckerburg called Facebook a ‘mobile company’ and noted more than half of people are only using Facebook from their phones.
‘It’s a pretty incredible sign of how Facebook has evolved as a company,’ he said.
BDST: 1437 HRS, OCT 31, 2013