Facebook has reportedly admitted drop in its usage amongst young teen users for the first time, which it feels would mainly be hit with teen-focused, mobile-first social networks including Snapchat.
The social networking giant reported 60% rise is its revenues for the third quarter, which is mainly boosted by mobile advertising that now accounts for about half of revenues generated.
During the quarter, Facebook’s mobile advertising revenue accounted for 49% of the overall $1.8bn generated in ad revenue.
On the whole, the social networking site generated revenues of over $2bn for the quarter, up from $1.26bn for the corresponding period last year, while its net income reached $425m.
Facebook founder and CEO Mark Zuckerberg said: "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 social networking reportedly had an average of 728m daily active users in September 2013, up 25% year-over-year, while the number of monthly active users reached 1.19bn by the end of September, reporting 18% rise year-over-year.
Facebook also relaxed its privacy settings for teenagers, who could previously not post publicly, as part of efforts to increase its usage among them.
