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November 5, 2015

Mobile ads boost Facebook profits

News: Revenue increases 41% to $4.5bn in Q3.

By CBR Staff Writer

Facebook has reported another quarter of robust revenue growth driven by its mobile advertising business and an increase in daily users.

Revenue increased 41% to $4.5bn in Q3, compared to $3.2bn in the same period last year.

Net income grew 11% to $896m, or $0.31 diluted earnings per share, compared to $806m, or $0.30 diluted earnings per share, in the last year.

Advertising revenue increased 45% to $4.29bn, with 78% of that coming from mobile advertising.

The number of daily active users (DAUs) of Facebook exceeded one billion, up 17% year-over-year, with monthly active mobile users up 23% to 1.39 billion.

Mobile DAUs were at 894 million, up from 844 million in 2014.

Facebook founder and CEO Mark Zuckerberg said: "We had a good quarter and got a lot done.

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"We’re focused on innovating and investing for the long term to serve our community and connect the entire world."

Facebook is planning to explore augmented reality in the future. Last year, the company acquired virtual reality start up Oculus VR for $2bn.

The social networking site has pledged to bring Internet access to everyone globally by 2020 as part of a UN effort to eliminate poverty by 2030.

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