Facebook, like Google, has become a money-printing business.
For the sixth straight quarter, Facebook’s revenue from advertising has grown by more than 60% over the same period the year prior. The figure climbed by 64% in the third quarter to $2.96 billion. Also for the sixth straight quarter, the company’s overall revenue increased by more than 50%; this time by 59% to hit $3.20 billion and beat analysts’ estimates.
Three years after concerns that Facebook couldn’t make money from mobile, the social network continues to make more and more of its money from mobile. In the third quarter 66% — or $1.95 billion — of Facebook’s revenue came from mobile, up from a 62% share in the second quarter and a 122% jump in mobile revenue from a year ago. And more and more people are checking Facebook on their smartphones or tablets. Each month 1.35 billion people checked Facebook during the third quarter, and 1.12 billion did so on a mobile device. And growing number of those people — 456 million — are checking Facebook only on their mobile devices.
Source:: AdAge – Digital