SAN FRANCISCO: Facebook on Wednesday announced that profit climbed on the back of soaring advertising revenue, nearly half of it from smartphones or tablet computers.
The world's leading online social network reported profit of $425 million in the quarter that ended on September 30, compared with a loss a year earlier.
The third quarter results for the California-base firm were well ahead of most forecasts, with revenues rising sharply to $2.016 billion, prompting a leap in shares in after-hours trade.
"For nearly 10 years, Facebook has been on a mission to connect the world," said co-founder and chief executive Mark Zuckerberg.
"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."
Facebook shares jumped more than 10 percent to $54.14 in after-market trades that followed release of the earnings figures.
Comments
Comments are closed.